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Message
re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 9:44 am to lockthevaught
Posted on 12/20/23 at 9:44 am to lockthevaught
quote:
The biggest problem is most banks won't give you a mortgage that small. It's easier to get approved for a $200k loan vs a 100k loan.
$200k loan is fine. We’re talking about an average monthly income of $78k. They shouldn’t buy a $400k house like the article is suggesting, but a $200-250k is perfect as a starter home
2
Posted on 12/20/23 at 10:11 am to Upperdecker
quote:
but a $200-250k is perfect as a starter home
Houses at this price that aren't in horrible areas of town or complete shitholes aren't really available in most places.
We bought a small spot in a "gentrifying" area and flipped it and then flipped another until landing in current spot. But if we were in our 20s again, we couldn't afford to do this. shite is so damn expensive now.
Posted on 12/20/23 at 10:37 am to Upperdecker
I hope people are starting to understand that for this regime this is a feature, not a bug. Private ownership of property is not something they’re looking to promote.
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