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texag7
USA Fan
College Station
Member since Apr 2014
35463 posts

How are people affording homes these days?

I am single and do well. Was looking in the Houston area for a house I could possibly live in and work on. Maybe rent it out once I fix it up

Anything remotely worth buying starts at 400k++. Even with a decent down payment not a comfortable mortgage payment at these rates

How are people with families and more bills affording houses/property tax etc?

I guess I will hold out for the next 1-2 years and see what happens


AbitaFan08
LSU Fan
Boston, MA
Member since Apr 2008
24857 posts

With the money they earn working, I’d assume.

quote:

I am single


There’s a fricking surprise.
This post was edited on 7/25 at 10:44 pm


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95124
TitleistProV1X
Member since Nov 2015
3270 posts

What really gets confusing are the ones with expensive houses, brand new $70k+ cars, multiple kids in private school, expensive vacations every other months and all on one single income


Centinel
Alabama Fan
Idaho
Member since Sep 2016
41392 posts

quote:

Was looking in the Houston area


There’s your first mistake.


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3125
JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
31350 posts
 Online 

quote:

How are people with families and more bills affording houses/property tax etc?


We work


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1956
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
31141 posts

It kinda made sense when rates were lower.

It’s all about the monthly payment.

As rates go up? It’s going to be harder and harder. But credit card debt is rising which is not sustainable


DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
6459 posts

quote:

Anything remotely worth buying starts at 400k++. Even with a decent down payment not a comfortable mortgage payment at these rates


Then you don’t do well.


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20111
texag7
USA Fan
College Station
Member since Apr 2014
35463 posts

quote:

What really gets confusing are the ones with expensive houses, brand new $70k+ cars, multiple kids in private school, expensive vacations every other months and all on one single income


Maxed out credit cards plus likely still help from their parents


Gaggle
Atlanta Braves Fan
Member since Oct 2021
3998 posts
 Online 

You don't have to afford things. You have to afford jungled around interest payments. After some years you could get that sweet sweet equity on your home which means you own part of the home you own and you can use the part you own to get another loan to help with the interest on the first loan to pay off to own the part you still don't yet own. Equity is the shite baby.


Christopher Columbo
New York Yankees Fan
Member since Jun 2015
1671 posts

quote:

It’s going to be harder and harder.




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SATNIGHTS
LSU Fan
Red Stick
Member since Jan 2008
2167 posts

Debt baw


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230
Jones
Member since Oct 2005
84781 posts

quote:

How are people with families and more bills affording houses/property tax etc?



Assuming these people have more years of income over you. Arent you just out of school for like 2-3 years?


LSUminati
Yale Fan
Member since Jan 2017
2585 posts

quote:

Anything remotely worth buying starts at 400k++. Even with a decent down payment not a comfortable mortgage payment at these rates

Aren’t you always throwing shade on people from this site being poor? Guess it was always projection, should have known that.
This post was edited on 7/25 at 10:53 pm


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690
TitleistProV1X
Member since Nov 2015
3270 posts

quote:

Maxed out credit cards plus likely still help from their parents

Yea I always assume it’s a combination of these two, especially the parent help. I assume some of these people put the absolute bare minimum in 401ks/529s/IRAs and are just banking on their inheritance at some point


texag7
USA Fan
College Station
Member since Apr 2014
35463 posts

quote:

Assuming these people have more years of income over you. Arent you just out of school for like 2-3 years?


I make around 200k a year pre tax


GeauxTigers123
LSU Fan
Member since Feb 2007
418 posts

Crazy thing is that even though the cheap interest drove up the prices, they don’t seem likely to come back down anytime soon.


TigersSEC2010
Warren, Michigan
Member since Jan 2010
36511 posts

The market will tank soon. Don’t worry.


Christopher Columbo
New York Yankees Fan
Member since Jun 2015
1671 posts

Baw. You gotta turn that trap house into a trap home.


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270
Jones
Member since Oct 2005
84781 posts

quote:

I make around 200k a year pre tax

quote:

I make around 200k a year pre tax



You make 200k a year.
Single

And cant figure out how to buy a 400k home.


This post was edited on 7/25 at 11:04 pm


Midget Death Squad
Notre Dame Fan
Meme Magic
Member since Oct 2008
21497 posts

quote:

I make around 200k a year pre tax


And you can’t afford a $400K house? I call bullshite


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