- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
6
Posted on 6/4/19 at 8:02 pm to Hammertime
I'm guessing most of these reports come from places where $150k wouldn't get you a one room shack.
Posted on 6/4/19 at 8:11 pm to Hammertime
What if you're entitled to a no money down VA loan?
Posted on 6/4/19 at 8:18 pm to Hammertime
quote:
If you can't afford to come up with the money for and pay an FHA loan on a $150k house, you don't deserve to have a house
This is the problem in a nutshell. Everyone grows up with their minimum expectations not being realistic.
The housing market has skyrocketed and it's not affordable to start off like their parents did.
My parents bought a 3 bedroom, 1 bathroom home in a nice neighborhood in 1975 for $8,000.00.
$8,000 in 1975 is just under $40,000 today. Yet those homes in that neighborhood sell for about $180k today.
At the time my dad worked at what is now Albemarle (which is where he retired from) and my mom was a stay at home wife. That was 3 yrs before I was born.
The average family can't have a house note, car note, insurance, etc etc on the husband's average salary today. There are families who bring in $120k-$150k a year and live month to month because they are trying to "keep up with the Jones'".
Posted on 6/4/19 at 8:39 pm to Hammertime
A house is a right. Every man a king.
Posted on 6/4/19 at 8:52 pm to Hammertime
quote:
If you can't afford to come up with the money for and pay an FHA loan on a $150k house, you don't deserve to have a house
Exactly. It would take two years of ~$185/month to hit the 3% requirement. A single 25 year old with any decent job could have that saved two years after graduation.
Posted on 6/5/19 at 5:55 am to Hammertime
quote:
If you can't afford to come up with the money for and pay an FHA loan on a $150k house, you don't deserve to have a house
I agree, but good luck finding a $150k house within two hours of NYC that you wont share with rats and holes in the roof.
That number is likely closer to $300k and then you get to choose if you want a house or kids, which is essentially another mortgage payment.
Between $1600/month for daycare/kid, and another $1900 for tax/p+i/escrow, most people around here need $3500+ a month in disposable income. And that buys you a 1800 sq ft house 75 miles from the city
. I suspect those numbers are typical of any large city in the US.
Most people don't and will never have that kind of cash.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News