- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
The qualifying yearly income for a median-priced house in 2020 was $49,680.
Posted on 11/13/23 at 1:34 pm
Posted on 11/13/23 at 1:34 pm
16
Posted on 11/13/23 at 1:35 pm to GumboPot
The great reset is inching closer.
Posted on 11/13/23 at 1:35 pm to GumboPot
Posted on 11/13/23 at 1:36 pm to GumboPot
quote:
for a median-priced house
Did they mean medium priced?
Posted on 11/13/23 at 1:36 pm to GumboPot
I saw this in the thread about it the other day.
Posted on 11/13/23 at 1:37 pm to GumboPot
This has more to do with interest rates than home price.
Posted on 11/13/23 at 1:38 pm to BeepNode
quote:
Blackrock staaacked.
Yes, except for the part of their portfolio where they paid a premium for real estate the last few years. They are going to have to sit on that portfolio for good while, unless they want to take a major haircut.
Posted on 11/13/23 at 1:39 pm to HubbaBubba
quote:
This has more to do with interest rates than home price.
Yes.
Posted on 11/13/23 at 1:39 pm to GumboPot
Good
Posted on 11/13/23 at 1:40 pm to HubbaBubba
quote:
This has more to do with interest rates than home price.
Doesn't make it any less shocking for a first time home buyer
Posted on 11/13/23 at 1:43 pm to GumboPot
Cares Act + Inflation reduction act
Posted on 11/13/23 at 1:44 pm to HubbaBubba
quote:
This has more to do with interest rates than home price.
True, but its not like interest rates now are high.
They are historically normal.
Posted on 11/13/23 at 1:46 pm to GumboPot
quote:
Yes, except for the part of their portfolio where they paid a premium for real estate the last few years. They are going to have to sit on that portfolio for good while, unless they want to take a major haircut.
Nope. It may look like a haircut for tax purposes but this all helps with the push towards these types of companies owning everything.
It must have been annoying for them to get into bidding wards with regular goys for properties due to low interest rates and disposable incomes. That's getting addressed.
This post was edited on 11/13/23 at 1:48 pm
Posted on 11/13/23 at 1:51 pm to HubbaBubba
quote:yup.
This has more to do with interest rates than home price.
but some areas (like middle tn) have gotten out of control on home prices too
Posted on 11/13/23 at 1:54 pm to OysterPoBoy
quote:
Did they mean medium priced?
They did not.
Posted on 11/13/23 at 1:54 pm to HubbaBubba
The interest rate in 2020 averaged 3.11% - on an average $240k house that is: $1026.00
Today, at 8.4% that is $1829.00
So, an additional $803 a month. Add 30% to that to cover income taxes, and you have a total additional income needed of about $1050.
At twelve months, that's an additional $12,600.
But, the median price, as an example, in DFW, went up $90,000. At 8.4%, that's an additional $686.00 a month, plus tack on 30% for taxes and you have $891.00, which is $10,962.
So $10,962 + $12,600 = $23,562 more of your income is required every year now for the same home.
So how do they get from a needed income of $49,680 to $107,000 when you only needed to add $23,562, which is $73,242 annually.
Today, at 8.4% that is $1829.00
So, an additional $803 a month. Add 30% to that to cover income taxes, and you have a total additional income needed of about $1050.
At twelve months, that's an additional $12,600.
But, the median price, as an example, in DFW, went up $90,000. At 8.4%, that's an additional $686.00 a month, plus tack on 30% for taxes and you have $891.00, which is $10,962.
So $10,962 + $12,600 = $23,562 more of your income is required every year now for the same home.
So how do they get from a needed income of $49,680 to $107,000 when you only needed to add $23,562, which is $73,242 annually.
Posted on 11/13/23 at 2:01 pm to HubbaBubba
quote:
So how do they get from a needed income of $49,680 to $107,000 when you only needed to add $23,562, which is $73,242 annually.
You need to consider debt to income ratio, not just additional income needed.
Posted on 11/13/23 at 2:03 pm to HubbaBubba
Homes are about 30% higher to build than pre Covid.
Posted on 11/13/23 at 2:07 pm to BeepNode
quote:
Blackrock staaacked.
Institutional investors are probably the most fricked, actually.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News