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1
Posted on 5/23/22 at 7:30 pm to T4
Incoming 10 pages with everyone saying yes.
Posted on 5/23/22 at 7:30 pm to BigPerm30
Rule of thumb is 30% of after tax
Posted on 5/23/22 at 7:30 pm to T4
Yes
Currently paying $3,300 monthly to finish 15 year refi in 6 years. I’m in my fifties.
I could not have answered ‘Yes’ to your question until I was 45, for what it’s worth.
Currently paying $3,300 monthly to finish 15 year refi in 6 years. I’m in my fifties.
I could not have answered ‘Yes’ to your question until I was 45, for what it’s worth.
Posted on 5/23/22 at 7:30 pm to T4
Yes, but I wouldn't pay that much for housing. I like my 1400 note
Posted on 5/23/22 at 7:30 pm to RummelTiger
I'm not trying to be a dick but in Houston/Dallas/Atlanta/Nashville/etc. or any nice suburb thereof I assume everyone is paying 2200+ in mortgage.
unless I misunderstood the question
unless I misunderstood the question
Posted on 5/23/22 at 7:33 pm to T4
My plan is to buy or build a house in a forever home type situation and sell the house we own currently. It might be a few years, but if I do end up with a $2200 house note I plan to have a couple hundred grand in the bank to help supplement it, probably max out I bonds, who know knows what else I will use the cash for.
Right now the biggest thing that scares me are institutional investors manipulating the market. Big contractors have been doing it small scale for years by selling a few houses in a development through shell games but these intuitional investors are manipulating not just a single development but entire markets and are gaining enough equity to have millions of dollars liquid to go do it again. It is quite scary for the US housing market.
Everyone knew lumber would cool when interest rates perked up, I think on that front it is smarter to buy a house when rates are high and the material prices come down because the .gov is going to do whatever it can to get rates back down and you could just refinance in a few years.
No, I am not paying 26k a year to live in MS, especially for what you get in most new construction.
Right now the biggest thing that scares me are institutional investors manipulating the market. Big contractors have been doing it small scale for years by selling a few houses in a development through shell games but these intuitional investors are manipulating not just a single development but entire markets and are gaining enough equity to have millions of dollars liquid to go do it again. It is quite scary for the US housing market.
Everyone knew lumber would cool when interest rates perked up, I think on that front it is smarter to buy a house when rates are high and the material prices come down because the .gov is going to do whatever it can to get rates back down and you could just refinance in a few years.
No, I am not paying 26k a year to live in MS, especially for what you get in most new construction.
Posted on 5/23/22 at 7:33 pm to T4
Yes. Our mortgage is $2600 per month for 30 years.
Posted on 5/23/22 at 7:34 pm to T4
quote:
Can you afford to pay $2,200 per month for housing with 25% or less of your income?
In other words, do you make 6 figures?
Posted on 5/23/22 at 7:35 pm to RummelTiger
I didn’t realize being a TD admin paid that well.
Posted on 5/23/22 at 7:35 pm to T4
quote:
Can you afford to pay $2,200 per month for housing with 25% or less of your income?
Yes, but just barely. Also that’s with my wife and I combined after taxes. fricking taxes.
Posted on 5/23/22 at 7:35 pm to Centinel
I’m factoring rates at 6.50% when I’m making my payment projections. $200 a SF on 70x150 lots with curb and gutter, sidewalks both sides of the road, street lights, boundary fencing, 2 miles from anything in town, .5 miles from shopping, restaurants, and hospital. $40k Lot cost. Was 15% profitable in 2019 at $134.50 a sf at $32k Lot cost then.
Posted on 5/23/22 at 7:36 pm to Rize
quote:
Yes. Our mortgage is $2600 per month for 30 years.
Jesus christ. Where the hell do you live, and more importantly, why?
Posted on 5/23/22 at 7:36 pm to hubreb
We are probably on the very low end of the spectrum but I think our mortgage payment is about 10% of our gross income.
Posted on 5/23/22 at 7:36 pm to T4
No thanks, I have about 5 more years at $580 a month and I own mine outright. It ain't big or fancy but it's a house, not a trailer and it won't be too much longer until it's all mine
Posted on 5/23/22 at 7:36 pm to TheWalrus
quote:
I didn’t realize being a TD admin paid that well.
There's only one mortgage company out there that accepts payment in koozies.
Luckily, I found it and it has been paying off big time!
Posted on 5/23/22 at 7:37 pm to NeonSunburst
quote:
I was in Hernando a few weeks ago, fell in love with the town! Not sure if that's Desoto County.
Hernando is the county seat of Desoto county. Named for Spanish explorer Hernando de Soto.
In my best Paul Harvey voice, "Now you know the rest of the story."
This post was edited on 5/23/22 at 7:38 pm
Posted on 5/23/22 at 7:37 pm to T4
quote:
Can you afford to pay $2,200 per month for housing with 25% or less of your income?
Yes
NJ my RE taxes are 1,200 a month
Is $2,200 just principal or escrow too
Posted on 5/23/22 at 7:38 pm to T4
quote:
we are all about to have to choke down when it all goes to hell
Thank you DJT
Posted on 5/23/22 at 7:38 pm to ReadyPlayer1
quote:
Yes, it will only be on a 15 year for that much a month.
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