You bought in Metairie, I presume?

In in OP's shoes but younger and have slightly more net worth. I don't want to buy a house in the suburbs yet at my age bc I have that dreadful shite to look forward to for the vast majority of my life most likely. I don't particularly want to afford what a decent house in Orleans would cost until my salary significantly increases if personal financial doomsday were to come soon for whatever reason. For selfish reasons, I'm hoping the Orleans market crashes soon bc I'm having a hard time justifying $300/sqft in neighborhoods I'd like to live.

Though like lynx says, enjoyment in life shouldn't come at the expense of incessant savings. Finding the balance between financial safety & doing things you want to do is a difficult balance to find for most.

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Posted by LSUFanHouston

NOLA

Member since Jul 2009

37333 posts

Posted on 1/5/16 at 9:24 am to Louie T

quote:
You bought in Metairie, I presume?

Actually St. Bernard Parish

Parts of Orleans Parish are out of control. I know a lot of people who live there who are pushing that 33 percent home debt ratio. You go in their house and they are sitting on camp chairs and eating at a folding table because they can't afford dining room furniture.

I hope they got fixed rate mortgages. If they were buying with adjustable and the rates creep up, it could be a problem (but that might be just what you need as a buyer!)

It is a hard balance to find. Most of us spend every day trying to find it. You want to never have to worry about money, but you also want to be able to enjoy it.

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