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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 10:35 am to OGtigerfan87
Posted on 10/18/23 at 10:35 am to OGtigerfan87
quote:
It’s the same thing when the low end workers complain they can’t afford an apartment working 40 hours a week. The prices of big cities/high end suburbs distort these numbers. You can move in rural areas, small town and even medium size towns and it would literally take half of these salaries to own a house. And I mean 3-4 bedroom homes that’s rent rundown at all. Location is the key. It is t just where you live in the rural/ urban divide either it’s certain states. You might just not be able to afford to live in California, New York, Oregon etc.
I work with some startups in the tech business.
In most cases, the R&D needs to be near Stanford and other tech hubs where the talent is concentrated. But the bulk of the other jobs that fit the standard industry practices can just as well exist in Nebraska or some other LCOL place as the company grows.
This post was edited on 10/18/23 at 10:38 am
1
Posted on 10/18/23 at 10:35 am to BluegrassBelle
quote:
My Dad does the same shite. Brags about how he doesn’t have a car payment or mortgage payment. That folks just need to “pull themselves up by their bootstraps” or “live within their means”.
"Sorry for pulling up the ladder behind us and destroying the economy. Maybe you should just work harder."
Posted on 10/18/23 at 10:35 am to FightingTigers138
quote:
for 110k back in 1986.
That is equivalent to $308,912 today
Posted on 10/18/23 at 10:35 am to FightingTigers138
quote:
My parents bought a home bigger then mine for 110k back in 1986. In a nice neighborhood with a golf course, a river, tennis courts, and a baseball field.
Wish we had opportunities like that these days.
That is $308,912.32 in todays dollar
Posted on 10/18/23 at 10:35 am to FightingTigers138
You can find a house and property probably bigger than theirs for the same price today. But you can’t live near or in a major/popular city. The horror
Posted on 10/18/23 at 10:36 am to OSqueal
Where? In middle of nowhere USA? Where the local economy is dependent on the two grocery store and a car dealership?
Posted on 10/18/23 at 10:36 am to EarlyCuyler3
quote:
And then work where? That's the problem.
And hope you have a reliable car/truck that you’ve taken care of otherwise you’re paying $20k+ to find something that will survive the commute for your “city job”.
This post was edited on 10/18/23 at 10:38 am
Posted on 10/18/23 at 10:38 am to OGtigerfan87
quote:
You can find a house and property probably bigger than theirs for the same price today. But you can’t live near or in a major/popular city. The horror
Link?
Posted on 10/18/23 at 10:38 am to dewster
I also did my time. What other jobs you talking about? Customer support? lol ancestry.com moved their CS to Utah and lost 50% of staff
Posted on 10/18/23 at 10:39 am to stout
If you live within your means, save and dont worry about anyone else but yourself none of this matters.
Posted on 10/18/23 at 10:40 am to OGtigerfan87
Maybe bigger but it won’t be nicer. Sure u can buy a 1900 house in a farm in middle of Texas somewhere 2 hours away from any metro. But then what?
Posted on 10/18/23 at 10:40 am to jizzle6609
And die alone no friends single forever but hey at least you didn’t care
Posted on 10/18/23 at 10:40 am to fareplay
Yes in “flyover states”. Not everybody gets to live in a major city/coastal area and never have. The entitlement to think 90% of the country isn’t good enough for you because it doesn’t have a Starbucks or pickle all
Court lol
Court lol
Posted on 10/18/23 at 10:41 am to Crawdaddy
quote:
Problem is these young kids want a 300-400K home. There are plenty of 175K homes out there
Way to out yourself as a completely out of touch boomer.
Anything under 300k is either in dinduland, or the middle of nowhere
Posted on 10/18/23 at 10:41 am to 14&Counting
quote:
You can’t find a $300k home in a major metro area where the jobs are
I'm in Austin which has been one of the most expensive real estate markets in the past few years and you can still get single family homes for $300k in neighboring Buda, 20 minutes from downtown.
Not every house needs granite countertops, stainless steel appliances and smart home hubs.
Posted on 10/18/23 at 10:42 am to H2O Tiger
Houses under 200k on the NS
Again, everyone wants the latest and greatest from the start
Again, everyone wants the latest and greatest from the start
Posted on 10/18/23 at 10:42 am to fareplay
You really think city life is that much happier than rural/ Middle America life? Man some of y’all are soft
Posted on 10/18/23 at 10:43 am to fareplay
quote:
And die alone no friends single forever but hey at least you didn’t care
For real
Boomers are basically telling us to work 80 hours a week, don't spend money on cell phone, internet, food other than beans/rice and drive a 20 year old car with no air conditioning to our job 2 hours away because the only home we can afford is in the middle of the forest.
Meanwhile they had 3 kids and a stay at home wife/mom, went on 3 vacations per year had 2 cars and a house, no debt all while being a VCR salesman who would get a pension.
But don't worry about all that. The current economy is exactly the same... The younger generations are just lazy.....
This post was edited on 10/18/23 at 10:44 am
Posted on 10/18/23 at 10:43 am to Crawdaddy
Now switch home type to single family home.... first time on zillow?
Posted on 10/18/23 at 10:43 am to OGtigerfan87
It’s hard for college graduates to find jobs in some dying town in the middle of nowhere.
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