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re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home
Posted on 10/18/23 at 1:11 pm to Dire Wolf
Posted on 10/18/23 at 1:11 pm to Dire Wolf
quote:
you'd know better than i would but i'd guess LC area has a decent amount of new home inventory over the last decade or so with all the plant work.
Graywood keeps getting built out slowly but outside of that the new homes are all DSLD type developments where you can open a window and pee on your neighbor's house. Not exactly desirable but it helps with any shortages.
Also, keep in mind a lot of houses were lost during two hurricanes and the 100 year flood we had a year later.
The only reason there might be some sort of surplus is a lot of people left after the storms and never came back.
Areas like Moss Bluff, Ragley, etc where LC is growing out to still has shortages
This post was edited on 10/18/23 at 1:12 pm
0
Posted on 10/18/23 at 1:12 pm to Crawdaddy
Posted on 10/18/23 at 1:12 pm to stout
To be fair, he made about 3 threads on getting AC in his house. He didnt have any ductwork at all apparently.
Posted on 10/18/23 at 1:13 pm to fareplay
quote:
Our house was using window units because older houses in MA were not meant for central or split systems.
Oh yea I remember your thread about it. That's why it cost so much. It was a retrofit job.
Posted on 10/18/23 at 1:14 pm to stout
Yeah but the issue is all houses in this area are super old. Any modern (post 2010) is close to 2M
Posted on 10/18/23 at 1:18 pm to Chicken
My wife is going to be a surgeon. You can't really be on call and live 30-45 minutes away from the hospital. And like someone else has said, because of the city market, the outlying areas further out are being flooded as well. I just searched Realtor.com for house in Maryville for under 200K. There are only eight listed, with five of the eight already pending or contingent, and the other remaining looking like this:
I mean, does any of this click with you? The market is so competitive, if a decent option even comes up, it's bought within hours by some investor or goes into a bidding war amongst the plethora of people desperately trying to get into a home. Even my boomer father who has a nice house, same one we grew up in, in a much more affordable area in the southeast, called me recently after looking at the market and said he doesn't know how anyone is making it nowadays.
I mean, does any of this click with you? The market is so competitive, if a decent option even comes up, it's bought within hours by some investor or goes into a bidding war amongst the plethora of people desperately trying to get into a home. Even my boomer father who has a nice house, same one we grew up in, in a much more affordable area in the southeast, called me recently after looking at the market and said he doesn't know how anyone is making it nowadays.
Posted on 10/18/23 at 1:19 pm to Crawdaddy
quote:
Problem is these young kids want a 300-400K home. There are plenty of 175K homes out there
yeah. A house two houses down from me is for sale. 3 bed, two bath, 1500 square feet. 20 years ago that house sold for $135k. Right now that house is selling for $380k.
I'm seeing shanties in my area going for over $200k
So unless these kids want to live in the ghetto, most homes are way out of their price range.
Posted on 10/18/23 at 1:21 pm to stout
quote:98
The typical U.S. home sold for about $420,000
quote:
The typical U.S. homebuyer’s monthly mortgage payment is $2,866,
I'll never sell my home. Jesus christ.
Posted on 10/18/23 at 1:25 pm to biglego
quote:
The staggering cost of subsidizing or merely tolerating ghetto culture is rarely discussed. “But my neighborhood is nice so who cares about crime” is so shortsighted.
truer words have never been spoken on this forum.
Posted on 10/18/23 at 1:29 pm to Crawdaddy
quote:
Problem is these young kids want a 300-400K home.
Boomer: "Entitled kids these days don't understand the sacrifice and hard work needed to buy a home. They all want 300-400k homes starting out. When I was their age I had to settle for a house for 130k as my first home.
Young person: " Ok. I would like to buy the same house you did when you were my age"
Boomer: "Ok that will be 400k"
Posted on 10/18/23 at 1:29 pm to KILGUS
quote:yes, I would continue to rent until I could afford what I really wanted.
I mean, does any of this click with you?
How old are you and your wife?
Posted on 10/18/23 at 1:29 pm to stout
33% of Americans make 6 figures
65% is the typical home ownership rate
Yup, this is not tenable. Developers have an opportunity to make bank on apartments, condos, duplexes and small single family homes. Build nice affordable homes in safe areas for people making between 50-100k and they’ll sell like wildfire
65% is the typical home ownership rate
Yup, this is not tenable. Developers have an opportunity to make bank on apartments, condos, duplexes and small single family homes. Build nice affordable homes in safe areas for people making between 50-100k and they’ll sell like wildfire
Posted on 10/18/23 at 1:30 pm to KILGUS
Good news for you, physicians kill it in rural areas. Your wife would probably only make 275k (assuming general) in a large city but probably close to 500k in a rural area
Posted on 10/18/23 at 1:31 pm to Chicken
quote:
yes, I would continue to rent until I could afford what I really wanted.
Didn't you buy a 5 bedroom 3k+ sqft house in a shithot dallas suburb in your 20's?
Should young people expect to replicate that?
Posted on 10/18/23 at 1:33 pm to Crawdaddy
quote:
Problem is these young kids want a 300-400K home. There are plenty of 175K homes out there
Yeah, maybe in BFE Louisiana. Shut up.
Posted on 10/18/23 at 1:36 pm to fareplay
quote:
buying a house is that upkeep is insane.
quote:
our house is built in 1980.
Posted on 10/18/23 at 1:37 pm to BearCrocs
Wanna help me find a new single family home in Boston area with a decent school district?
This post was edited on 10/18/23 at 1:37 pm
Posted on 10/18/23 at 1:40 pm to Crawdaddy
I wonder if this keeps up if we will see people go back to small town/rural living especially with those who can work from home most of the time.
Say you have an office job in Houston. Can’t afford the suburbs but can WFH most days, only going into the office once or twice a week. Better off finding a way cheaper home in the country or small town an hour or so outside the metropolis and making the drive to the office once or twice a week.
Say you have an office job in Houston. Can’t afford the suburbs but can WFH most days, only going into the office once or twice a week. Better off finding a way cheaper home in the country or small town an hour or so outside the metropolis and making the drive to the office once or twice a week.
Posted on 10/18/23 at 1:41 pm to deltaland
WFH is dying. Many tech companies asking to return 3-5 days a week now.
Posted on 10/18/23 at 1:42 pm to fareplay
quote:
How much do you think 300k really is?
After taxes my take home is roughly 180k
Oh yea, find a new cpa
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