re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home

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I was 26, dual income household...house was roughly $200,000 but wasn't in a shithole area. Mortgage rate was about 6.5%.

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And here is the disconnect.

If someone in their mid 20s said that he and his wife both had good jobs but complained about not being able to buy a 5 bedroom 3k sqft new build in a hot surburb you would probably think they were insanely spoiled, entitled and delsuional.

But that's what people your age did.


That same 200k house is probably 650k or more now.

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I get that home prices are up, but is rent so high that it is causing people not to be able to rent in areas they want to live in? Honest question.

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I haven't rented in a long time but I would guess rents in desirable areas with jobs are a larger percentage of people's income vs before. It's pretty widely published that rents have far outpaced wages over the last 30 years.

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I get that home prices are up, but is rent so high that it is causing people not to be able to rent in areas they want to live in? Honest question.

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i am going to guess Houston has the cheapest rent for top 10 population-size cities. You are going to still be looking at ~1k for a 1 bedroom that isn't in the hood.

dual income or roommates make your situation way easier.

new york, boston, maimi, ect you are going to get bent over for 2x-3x that

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I was 26, dual income household...house was roughly $200,000 but wasn't in a shithole area. Mortgage rate was about 6.5%.

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Plug your old address into Zillow and see what its current value is. Then research the average salary for 26 year olds. Could two 26 year olds buy it today? (Consider whatever you want for down payment)