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re: The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 12:55 pm to Turnblad85
Posted on 3/5/24 at 12:55 pm to Turnblad85
quote:
Money spent in one place cannot be spent in another. A $1000/mo healthcare premium takes away from funds that could be spent on a mortgage note.
Have you ever worked for a company that offered employees a salary increase in lieu of healthcare?
3
Posted on 3/5/24 at 12:57 pm to JohnnyKilroy
quote:
Have you ever worked for a company that offered employees a salary increase in lieu of healthcare?
I think my one of my wife's old employers offered her less per hour to go hourly and drop benefits.
Posted on 3/5/24 at 1:01 pm to JohnnyKilroy
quote:
Have you ever worked for a company that offered employees a salary increase in lieu of healthcare?
My wife gets a couple hundred a month for not having company healthcare. I have to pay a penalty that’s slightly more because she’s on my policy but has healthcare available thru her employer.
Posted on 3/5/24 at 1:02 pm to JohnnyKilroy
quote:
Have you ever worked for a company that offered employees a salary increase in lieu of healthcare?
No, but I would need a sizable increase in income to replace healthcare, 401k, PTO, etc. All of those things take away from base income if having to self-finance, obviously.
You could just not be a pussy and forgo those things but I'm a pussy and they are required for being an adult.
Posted on 3/5/24 at 1:03 pm to LNCHBOX
I feel like the crazy rent prices are a factor that is being left out of this conversation.
High housing prices increase the demand for rental properties which drives up the rent prices even more. Higher rent = less money saved each month to put towards the down payment. This extends the time that individual needs to rent to save up, which then increases the number of renters, which just starts the whole cycle again
High housing prices increase the demand for rental properties which drives up the rent prices even more. Higher rent = less money saved each month to put towards the down payment. This extends the time that individual needs to rent to save up, which then increases the number of renters, which just starts the whole cycle again
Posted on 3/5/24 at 1:03 pm to stout
quote:
sadly a few arch windows that I hate.
Worst invention ever from a design/engineering persepective.
quote:
31 on the main house including some huge windows
We did a window remod on our home 20 years ago. The front entry/dining had three large windows, with the center being a massive arched job. Ended up reframing and making them 6 ea windows with some extensive interior casing and exterior trim. Saved 30% in cost (even with finish carpentry), had more viewable area and the interior was a drastic improvement aesthetically imo. And by "imo" I loved it, the wife eventually came around. Sort of.
Posted on 3/5/24 at 1:05 pm to stout
Just means Father Government will develop more assistance programs for home ownership. We can turn it into a clusterfrick like the student loan program.
Posted on 3/5/24 at 1:06 pm to RogerTheShrubber
quote:
As long as investors are doing ok, housing prices will never adjust.
Last week there was a report on housing for Jan 2024.
For the month of Jan 2024, the 1st time home buyer market had 31% ALL CASH buyers. It was driving the normal 1st time home buyer out of the market because in a multiple contract, the seller obviously was electing to go with the ALL CASH buyer.
ETA: The data given was nationally.
This has to be companies like Blackrock...a normal 1st time home buyer IS NOT paying all cash.
This post was edited on 3/5/24 at 1:09 pm
Posted on 3/5/24 at 1:07 pm to fareplay
Your kids lives will be as easy as you want it to be
Your wife is a doctor lol
quote:
The fields we are in today may not be relevant tomorrow
Your wife is a doctor lol
Posted on 3/5/24 at 1:11 pm to lsuconnman
quote:
In all fairness the article seems like one of those math problems that intentionally confuse terminology to generate engagement.
It starts with the cost of a home and the salary needed to purchase it. The next thing you know they’ve introduced median household income into the equation.
My issue isn't really with the article but the responses by posters who don't seem to think the availability of benefits affects what a salary means.
But the article is silly. Someone making $100k with full benefits has wayyy more disposable income that someone making $100k without benefits and having to self-fund them.
Posted on 3/5/24 at 1:13 pm to Supermoto Tiger
quote:
This has to be companies like Blackrock...a normal 1st time home buyer IS NOT paying all cash.
Blackrock doesn't invest in the SFH. Blackstone does and people get them confused. BR does do multi-family, though.
In Louisiana, there is a fund named Kairos Living that has been buying up a ton of houses from developers. They are buying all over but have struck some deals to buy whole streets from DSLD.
It's hard to support based on my views but I wouldn't be opposed to stopping large funds from buying up whole streets of inventory.
Posted on 3/5/24 at 1:14 pm to Deactived
Yes but her coworker is an anesthesiologist and they are getting redundant by the day with NP, similar with radiologists and ML algorithms. Also this will sound crude but 1M (which btw we’re under that) isn’t as much as you think after taxes and cost of living in expensive areas. An average home in my zip (3b 2b) is pushing 2M
This post was edited on 3/5/24 at 1:14 pm
Posted on 3/5/24 at 1:14 pm to Grievous Angel
quote:
Is supply and demand broken?
If people can't afford it...why aren't prices coming down?
Id imagine:
1) Rent is close to equally expensive from a monthly perspective
2) Speculation on the part of REITS and other entities are propping up prices
3) Refusal to sell and buy a smaller property due to 3x mortgage interest rates
Posted on 3/5/24 at 1:15 pm to Turnblad85
quote:
are you under the impression that these two things are what completely encompasses benefits?
Money spent in one place cannot be spent in another. A $1000/mo healthcare premium takes away from funds that could be spent on a mortgage note.
No of course not. I was just making a point that the numbers quoted in the OP are clearly about salary, not total compensation. Obviously having better benefits will help you overall. I don't think bringing up unrelated parts of compensation has much to do with the salary required to afford a house.
Posted on 3/5/24 at 1:16 pm to Turnblad85
(no message)
This post was edited on 3/21/24 at 12:10 pm
Posted on 3/5/24 at 1:18 pm to lsuconnman
Idk if I’m quoting the right convo but 100k ain’t much these days when most jobs paying that much is in cities and city rent is expensive. Hard to find abundant 100k jobs in places with 1k rent for a 1b.
When I was in Boston, 1b 30 mins outside of city was like $2500
When I was in Boston, 1b 30 mins outside of city was like $2500
This post was edited on 3/5/24 at 1:19 pm
Posted on 3/5/24 at 1:18 pm to Mason Dixon Swine
quote:
I don't think bringing up unrelated parts of compensation has much to do with the salary required to afford a house.
well then you have the financial acumen of a soft crustacean.
Posted on 3/5/24 at 1:19 pm to fareplay
quote:
Also this will sound crude but 1M (which btw we’re under that) isn’t as much as you think after taxes and cost of living in expensive areas.
1 million income is plenty enough for any place in this country.
I think your entire posting is a shtick on here so I don't know why I am responding to you about finances
Posted on 3/5/24 at 1:21 pm to Deactived
I guess you don’t live in hcol areas where mortgage is 10k+ a month
Before you boomers say just buy starter home etc, those are starter level homes for decent district. Not everyone lives in rural Louisiana
Before you boomers say just buy starter home etc, those are starter level homes for decent district. Not everyone lives in rural Louisiana
This post was edited on 3/5/24 at 1:24 pm
Posted on 3/5/24 at 1:40 pm to fareplay
You live in Dallas, correct?
I just went to the homes for sale there and put your numbers in. I knocked it down to 1.75 million. On what planet are these considered 'starter' homes?
There is nothing starter about having a 10k mortgage also.
Your takes on money/income are completely ridiculous
I just went to the homes for sale there and put your numbers in. I knocked it down to 1.75 million. On what planet are these considered 'starter' homes?
There is nothing starter about having a 10k mortgage also.
Your takes on money/income are completely ridiculous
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