re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home

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Bro got to have his Starbucks and chipotle lol

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Pahahaha, if I never went to either ever again, it wouldn’t be long enough.

No, some people, like myself, like the opportunity to go do things on the weekend and maybe meet new people

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Nice suburb life with good schools is where it's at

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Single with no kids. Schools mean nothing to me at this time

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Single with no kids. Schools mean nothing to me at this time

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now would be the perfect time to start investing in real estate, and maybe in those areas

Gentrification!!!!

The median income is 28k cause there’s a bunch of trash. If you can’t make 50k there (which is nothing) and buy a 200k house then you shouldn’t be complaining because you won’t be able to make it work anywhere. There are lots of jobs and they do pay a little less than they would in a bigger city but there’s a reason why.

You can make more than 44k married if you both work at Popeyes. These numbers are a joke.

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Problem is these young kids want a 300-400K home. There are plenty of 175K homes out there

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The other problem is homes that should be listed at max $200k-$250k are the houses listed at $300k - $400k.

We will be looking to buy in the Houston suburbs next year and although we can easily put down a 20% downpayment, the monthly notes are where we are having to downsize what we can buy by $100k or more. The house size we bought in 2018 at $180k is now going for $300k.

We bought a home in a development in a military community in 2020. At that time the lowest priced home in the development was $420. That house sold just a few months ago for $635 and was on the market for about 15 days. Almost everyone in the neighborhood is active duty or recently separated and a couple of years into a post military career either as a fed or a federal contractor. If both spouses are working they probably have around $180K in income. They live LARGE. 2 new cars. Most likely a camper and a boat. They have parties regularly. The amazon boxes on trash days nearly block the streets and the furniture and appliance delivery trucks make it impossible to navigate the streets at times. They live large. They also get divorced on the regular, they sell those houses regularly (the one we have was finished in late 2017 and we bought in November of 2020 and were the third owners). My daughter, 13, has a different group of friends every 90 days or so because her friends parents either get reassigned (typical of military communities) or their parents are getting divorced and they are moving to more affordable digs. The prices increase steadily because its a military community and the military does not ebb and flow with the economy like many industries do...but those folks in their 30's and 40's are struggling to live in that neighborhood. By choice no doubt but they are making the choice because there is no real alternative...the area is typical of everything in the area and their family and peers would have a lower opinion of them if they lived further out and in less a home. They cab manage the latter somewhat but no matter where they live they are going to pay too much....

Am not arguing that the housing market is not screwed up, but this type of picking and choosing stats to sell a point irritates me.

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must now earn an average salary of $115,627 in order to qualify for a mortgage on a typical American home

The typical U.S. home sold for about $420,000

The typical U.S. homebuyer’s monthly mortgage payment is $2,866,

the typical monthly payment was $1,581, based on that month’s average mortgage rate of 2.94% and median home price of $329,000

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Define typical.
Why do they jump from median (middle point) to average. Did using both averages or both as median not get their point across?