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Started By
Message
How are people affording homes these days?
Posted on 7/25/22 at 10:38 pm
Posted on 7/25/22 at 10:38 pm
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
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
46
Posted on 7/25/22 at 10:40 pm to texag7
With the money they earn working, I’d assume.
There’s a fricking surprise.
quote:
I am single
There’s a fricking surprise.
This post was edited on 7/25/22 at 10:44 pm
Posted on 7/25/22 at 10:43 pm to texag7
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
Posted on 7/25/22 at 10:43 pm to texag7
quote:
Was looking in the Houston area
There’s your first mistake.
Posted on 7/25/22 at 10:43 pm to texag7
quote:
How are people with families and more bills affording houses/property tax etc?
We work
Posted on 7/25/22 at 10:45 pm to texag7
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
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
Posted on 7/25/22 at 10:48 pm to texag7
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.
Posted on 7/25/22 at 10:49 pm to TitleistProV1X
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
Posted on 7/25/22 at 10:49 pm to texag7
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.
Posted on 7/25/22 at 10:51 pm to LSUFanHouston
quote:
It’s going to be harder and harder.
Posted on 7/25/22 at 10:52 pm to Christopher Columbo
Debt baw
Posted on 7/25/22 at 10:53 pm to texag7
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?
Posted on 7/25/22 at 10:53 pm to texag7
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 7/25/22 at 10:53 pm
Posted on 7/25/22 at 10:54 pm to texag7
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
Posted on 7/25/22 at 10:55 pm to Jones
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
Posted on 7/25/22 at 10:56 pm to TitleistProV1X
Crazy thing is that even though the cheap interest drove up the prices, they don’t seem likely to come back down anytime soon.
Posted on 7/25/22 at 10:57 pm to texag7
The market will tank soon. Don’t worry.
Posted on 7/25/22 at 10:58 pm to texag7
Baw. You gotta turn that trap house into a trap home.
Posted on 7/25/22 at 11:01 pm to texag7
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 7/25/22 at 11:04 pm
Posted on 7/25/22 at 11:01 pm to texag7
quote:
I make around 200k a year pre tax
And you can’t afford a $400K house? I call bullshite
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