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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 10:51 am to stout
Posted on 10/18/23 at 10:51 am to stout
I couldn't afford a mortgage until I saved for 6 years. That was in the 90s. But kids these days think they deserve everything right now.
This post was edited on 10/18/23 at 10:52 am
1
Posted on 10/18/23 at 10:51 am to member12
quote:
acksonville, Memphis, Little Rock, Birmingham,
Jacksonville is wayyyyy more expensive than the other three
Posted on 10/18/23 at 10:53 am to OGtigerfan87
quote:
You really think city life is that much happier than rural/ Middle America life? Man some of y’all are soft
This typical myopic outlook totally misses the point that you could afford these same houses in the city just 20-30 years ago.
Posted on 10/18/23 at 10:55 am to OGtigerfan87
quote:
You really think city life is that much happier than rural/ Middle America life? Man some of y’all are soft
As a single man in his 30s, yes, city life is MUCH happier than rural/middle America life
Posted on 10/18/23 at 10:56 am to fareplay
No they aren’t they just aren’t modern enough for your taste. Which is irrelevant in this conversation
This post was edited on 10/18/23 at 10:56 am
Posted on 10/18/23 at 10:56 am to Gifman
quote:
Not a house. If we're talking about condos/town homes... completely different
Condo owners nationwide are experiencing shocking increases in fees associated with owning a condo. Many are being forced to sell because they can't swing the increase.
Posted on 10/18/23 at 10:57 am to stout
So the Uniparty goal of destroying the middle class is working?
Posted on 10/18/23 at 10:57 am to rowbear1922
Bro got to have his Starbucks and chipotle lol
Posted on 10/18/23 at 10:57 am to stout
quote:
According to a new report by Redfin, a homebuyer must now earn an average salary of $115,627 in order to qualify for a mortgage on a typical American home—a number that is up 15% (or $15,285) year-over-year and up 50% from before the pandemic.
Posted on 10/18/23 at 10:58 am to AwgustaDawg
quote:
Condo owners nationwide are experiencing shocking increases in fees associated with owning a condo. Many are being forced to sell because they can't swing the increase.
They could if they sold their car, walked to work, only ate food 4 days a week and worked 7 jobs. Bunch of slackers just want a good life at age 40 and aren't willing to work for it
Posted on 10/18/23 at 10:58 am to Asharad
Lmfao sir I make a good amount of money (multi 6 figures) but the cheapest houses are roughly 1M. Assume 20% and let’s say I live a super frugal life, that still takes 4 years to save up. Now imagine a normal American
Posted on 10/18/23 at 10:59 am to OGtigerfan87
What are you talking about? Modern? There is no jobs in the town people are listing their houses for 80k and can’t sell because nothing is there
Posted on 10/18/23 at 10:59 am to rowbear1922
quote:
As a single man in his 30s, yes, city life is MUCH happier than rural/middle America life
Life expectancy and quality of life is higher in urban areas than it is in rural areas. The numbers exist...
Posted on 10/18/23 at 10:59 am to AwgustaDawg
quote:
Condo owners nationwide are experiencing shocking increases in fees associated with owning a condo. Many are being forced to sell because they can't swing the increase.
Yeah that's another thing. If you're able to buy a condo in a "decent" area, get ready to fork over $500/month in an HOA fee.
I'm just glad I bought my house when I did in early 2020 but I really feel for everyday, middle class people looking to buy right now.
Posted on 10/18/23 at 10:59 am to stout
I feel like you would be broke as frick buying a 420k house on 115k salary
Posted on 10/18/23 at 10:59 am to SuperSaint
quote:
quote:
Exactly, I see it all the time. These kids want the same house their boomer parents live in, but have no idea the years of work kicking the proverbial can down the road it took to get there.
fify
My grandfather used to say the same thing 40 years ago about his grandfather buying a house for $1,500. Every generation says the same thing.
Downvote away... LOL
Posted on 10/18/23 at 11:00 am to AwgustaDawg
Yea I can’t believe some of the shite you see on redfin or zillow where a condo or apartment is listed for like 100k but there’s a 300/month condo fee.
Posted on 10/18/23 at 11:01 am to stout
Posted on 10/18/23 at 11:01 am to OGtigerfan87
quote:
No they aren’t they just aren’t modern enough for your taste.
Maybe some people don’t want a 90 minute daily commute?
Posted on 10/18/23 at 11:01 am to Gifman
quote:
Yeah that's another thing. If you're able to buy a condo in a "decent" area, get ready to fork over $500/month in an HOA fee.
I'm just glad I bought my house when I did in early 2020 but I really feel for everyday, middle class people looking to buy right now.
And expect that number to double and triple in the next couple of years. A PILE of condo owners in Florida have seen their annual association fees surpass the purchase price of their unit just 5-10 years ago.
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