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Started By
Message
re: Baffled as to how single people afford houses currently
Posted on 10/13/23 at 7:12 pm to mattz1122
Posted on 10/13/23 at 7:12 pm to mattz1122
quote:
Didn’t you inherit your house
I inherited part of it, if that makes sense. It was my grandfather’s then went to my mom and her siblings. I inherited my mom’s portion, so still paying on remaining portions that I had to buy out. So yes, that’s another MAJOR reason that I didn’t consider in terms of my low mortgage.
0
Posted on 10/13/23 at 8:03 pm to Thundercles
Normally I would say "I see the poors are at it again"
But I'm glad I bought my house 6 years ago before prices exploded
But I'm glad I bought my house 6 years ago before prices exploded
Posted on 10/13/23 at 8:50 pm to Thundercles
They don’t unless they make a lot of money.
Posted on 10/14/23 at 10:20 am to The Third Leg
West for me personally
They’re not dumps they’re no different than any other suburb. Now if I said seagoville then yeah that’s the shits
They’re not dumps they’re no different than any other suburb. Now if I said seagoville then yeah that’s the shits
Posted on 10/14/23 at 10:48 pm to Thundercles
quote:
Looking at properties in Dallas, 400k in town buys a real run-down place in a rough part of town at present.
False
Posted on 10/14/23 at 11:19 pm to WhereisAtlanta
Thread has not recognized the cost of home owners insurance, which is mandatory if you have a mortgage. Easy to spend 500$/mo on this item
Posted on 10/15/23 at 7:20 am to Thundercles
Why would a single person want to tie themselves up by buying a house? Rent, get a roommate if you can and work your arse off/stay mobile. Some of the best times I had was being in my 20’s and living with an old college friend. We had a blast.
Posted on 10/15/23 at 7:26 am to SquatchDawg
quote:
stay mobile
Especially today when everyone can work wherever they open their laptop.
Posted on 10/15/23 at 7:43 am to Thundercles
Yeah, with our present housing prices and cost of living, its almost as if this system benefits someone other than the average American citizen huh?
Posted on 10/15/23 at 7:46 am to WhereisAtlanta
quote:
quote:Looking at properties in Dallas, 400k in town buys a real run-down place in a rough part of town at present.
False
You can get single family houses in far northern Dallas for low 400s actually in city limits. School district won’t be good and police response time will be slow. Dallas PD is way understaffed.
Crazy thing is that like 10 years ago those homes were in the 200s.
Posted on 10/15/23 at 7:48 am to Thundercles
We are moving to the rest of the worlds model:
Live with family longer
More renting than owning
More multifamily developments (town homes, condos, apartments)
Multifamily has been growing exponentially the last 4 years. Continuing to be fed by housing costs. This will replace the starter/track home model. Greater roi. Especially given land and concrete costs aren’t coming down.
House prices will never return as the supply will never return (to old levels) and every day people buy at higher levels the more the floor on future prices rise.
Live with family longer
More renting than owning
More multifamily developments (town homes, condos, apartments)
Multifamily has been growing exponentially the last 4 years. Continuing to be fed by housing costs. This will replace the starter/track home model. Greater roi. Especially given land and concrete costs aren’t coming down.
House prices will never return as the supply will never return (to old levels) and every day people buy at higher levels the more the floor on future prices rise.
Posted on 10/15/23 at 7:54 am to Thundercles
If I was single I’d be able to afford a much much bigger house. Damn wife n kids
Posted on 10/15/23 at 8:02 am to RealDawg
quote:
Live with family longer
I think this is accurate. I think we will see a movement towards people living in multigenerational households.
Lots of the houses in the northern Dallas suburbs already have 3 generations living in them (at least in the Indian neighborhoods).
I think the rest of Americans will have to move towards this.
Posted on 10/15/23 at 8:14 am to Trevaylin
quote:
Thread has not recognized the cost of home owners insurance, which is mandatory if you have a mortgage. Easy to spend 500$/mo on this item
Or PMI if you don't put 20% down. I realize that's not an issue for 99.9% of the OT elite, but it's a reality for a lot of people.
Posted on 10/15/23 at 8:17 am to EarlyCuyler3
quote:
Or PMI if you don't put 20% down
So youd rather put 100k down vs 20k to not pay 200 more monthly?
You wouldnt want the extra 80k in your bank?
Posted on 10/15/23 at 8:21 am to SDVTiger
You're a special kind of dumb, aren't you?
Posted on 10/15/23 at 8:27 am to EarlyCuyler3
So thats a yes. No wonder you are 40 with 2k in the bank begging for advice
Posted on 10/15/23 at 8:29 am to SDVTiger
quote:
You're a special kind of dumb, aren't you?
quote:
So thats a yes
Posted on 10/15/23 at 8:35 am to EarlyCuyler3
quote:
Right now we have 2800 or so in a 401k, 2.5% match, so doing 7.5% there total. 5% just now going into a 457b. Have it all in stocks right now, just index funds. Going to meet with a Fidelity rep next month to see what he says to do. I'm guessing I'm going to want to be more aggressive than he would want, in my mind I was to be a bit riskier to try and make up some ground over time. There's just no way to make up 18 years of time lost.
Owe 12k or so on student loans, owe 15k on car. Rent, don't own. Saving $400 per paycheck, should be debt free in 18 months.
Posted on 10/15/23 at 8:36 am to SDVTiger
I love how the low IQ posters think that's a gotcha. You might would have a point if that was still the case and not a 4+ year old post.
Thanks for proving my point about you being a special kind of dumb.
Thanks for proving my point about you being a special kind of dumb.
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