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Started By
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re: Biden leaning towards canceling 10K in student loan debt if u earn less than 125K
Posted on 8/23/22 at 9:45 am to Palmetto98
Posted on 8/23/22 at 9:45 am to Palmetto98
quote:
Not everybody wants to eat lunch at twice daily, carry around a cracked phone screen, and have monster drink cans fill up their car floor.
This is exactly how I picture you, after your meltdown about gas prices.
1
Posted on 8/23/22 at 9:46 am to RogerTheShrubber
quote:
This is exactly how I picture you, after your meltdown about gas prices.
I’m not a try hard tradie butthurt about people with degrees.
Posted on 8/23/22 at 9:47 am to Klark Kent
quote:
to be fair, it sounds like you were able to accomplish that goal.
Im also a top earner for my age. That's not a brag, it just is what it is. And I bought a townhouse that I put a ton of sweat equity in and completely remodeled by myself with my dad. My dad is semi retired and works from home so he was able to "gc" for me while I was at work during the day.
I have enough brain power to realize that my situation isn't typical of the average American. They don't make as much money as I do, they didn't have the help and structure I had growing up, and they don't have the time and/or resources that I had
Posted on 8/23/22 at 9:50 am to Klark Kent
quote:the vast majority of others aren't making high 5 figs-low 6 figs in their 20s/early 30s, and that's pretty much required to get a house in any metro area where there is a stable job market.
why wouldn’t others be able to?
i've repeated this many times, but the cratering public school system is a huge factor in this. makes a lot of lower COL areas uninhabitable for decent middle class people. there's simply a lot more trash than there used to be... and there's already a shortage in housing supply.
eta: look at many of the "first ring" suburbs of sunbelt cities that have a lot of 1400 sq "starter houses". these are section 8 now.
This post was edited on 8/23/22 at 9:53 am
Posted on 8/23/22 at 9:50 am to Mingo Was His NameO
quote:
I have enough brain power to realize that my situation isn't typical of the average American. They don't make as much money as I do, they didn't have the help and structure I had growing up, and they don't have the time and/or resources that I had
You're doing it wrong
This post was edited on 8/23/22 at 9:51 am
Posted on 8/23/22 at 9:51 am to JohnnyKilroy
This will also be a bailout for blue states with high concentration of borrowers.
new hmapshire, Delaware, PA, rhode island and minnesota have the worst student loan debt.
This is probably why they vote blue, its vote buying without actually having to spend any of your money.
new hmapshire, Delaware, PA, rhode island and minnesota have the worst student loan debt.
This is probably why they vote blue, its vote buying without actually having to spend any of your money.
This post was edited on 8/23/22 at 9:55 am
Posted on 8/23/22 at 9:52 am to Scruffy
quote:
Median home price in the USA has reached $428,000.
Median household income with a college degree is ~$100,000.
Lets be conservative - If you saved $20k per year of your $100k salary towards buying a home (should be very easy) for 5 years you now have $100k saved up (that's without any investment growth). Just running #s in my head if you put 20% down (still leaves you with $15k in reserves) your monthly payment likely comes out to around $2k per month. Not ideal but certainly manageable on a $100k salary. Now would I do that? No, but there are plenty of nice houses to be bought in the $280k range. Add a 2nd income from a spouse or rent out a bedroom and it becomes very easy
This post was edited on 8/23/22 at 9:55 am
Posted on 8/23/22 at 9:53 am to RIO Goose
Imagine my daughter who worked her arse off in HS to get scholarships for which she has to pay taxes on anything over tuition cost. What message does that send?
Posted on 8/23/22 at 9:54 am to Yeti_Chaser
quote:
there are plenty of nice houses to be bought in the $280k range
Im fricking laughing internally as I stare at the DFW Housing Market
Posted on 8/23/22 at 9:55 am to Yeti_Chaser
quote:
Just running #s in my head if you put 20% down (still leaves you with $15k in reserves)
What about closing costs? You're going to completely deplete yourself of cash? How old were you when you crossed that $100k mark? For the sake of your arguement, let's say 26 to be generous. That'd put you owning a home at around 31. Many people have kids by 31. You aren't saving 20% of gross with kids.
Posted on 8/23/22 at 9:55 am to 50_Tiger
quote:
there are plenty of nice houses to be bought in the $280k range
Im fricking laughing internally as I stare at the DFW Housing Market
You can get 1,400 sq ft in Duncanville baw
Posted on 8/23/22 at 9:56 am to RLDSC FAN
Show me the money. 
Posted on 8/23/22 at 9:56 am to Yeti_Chaser
quote:
Lets be conservative - If you saved $20k per year of your $100k salary towards buying a home (should be very easy)
quote:
No, but there are plenty of nice houses to be bought in the $280k range. A
Posted on 8/23/22 at 9:56 am to 50_Tiger
quote:
I stare at the DFW Housing Market
There are plenty of markets where this doesn't work. No one said you had to buy there. If you insist on living in an expensive area you have to put in more work and take more risks
Posted on 8/23/22 at 9:57 am to Mingo Was His NameO
quote:
You can get 1,400 sq ft in Duncanville baw
Ive legit heard NO ONE ever say they wanted to live in Duncanville my guy lol.
Dont worry I already closed on a house.
280K in DFW in desirable areas are almost non-existent.
Posted on 8/23/22 at 9:57 am to RLDSC FAN
$125k is poor by OT standards but now that's considered too poor to live up to your obligations? isn't that sheepskin what helped you get the position paying you that? so I want an education, degree, qualifications, etc., I just want it given to me, got it 
Posted on 8/23/22 at 9:57 am to Yeti_Chaser
quote:
There are plenty of markets where this doesn't work. No one said you had to buy there. If you insist on living in an expensive area you have to put in more work and take more risks
Here we go again with this trope.
Posted on 8/23/22 at 9:59 am to Yeti_Chaser
quote:And if your $100k job becomes a $60-70k job in a cheaper market, can you do the math for me then?
There are plenty of markets where this doesn't work. No one said you had to buy there. If you insist on living in an expensive area you have to put in more work and take more risks
Oh, and you aren’t taken home $100k. That is pre-taxes. Subtract taxes from it.
Or, how about, your job doesn’t exist outside of a certain market.
This post was edited on 8/23/22 at 10:01 am
Posted on 8/23/22 at 9:59 am to Yeti_Chaser
quote:if you're making 100k earl-ish in life, you pretty much do have to live in one of these high COL areas (and DFW isn't even particularly high COL).
There are plenty of markets where this doesn't work. No one said you had to buy there.
Posted on 8/23/22 at 10:00 am to Yeti_Chaser
quote:
People need to fix their attitude and learn that time is their most valuable commodity so quit wasting it
Do you realize how bad everything you just said sounds? Only in America is it expected for people to have to work 2 to 3x as hard to be able to afford housing. The system is completely fricked.
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