re: So all I need to do to afford a $750,000 house

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But SVD thinks paying rent builds equity

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You couldn’t build equity in the example you posted lmao. You can’t seem to get that.

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You couldn’t build equity in the example you posted lmao. You can’t seem to get that.

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And you are fixated on that one example as if I didnt provide another example of a 150k in a decent area where your LTV rebuttal was meaningless

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Thanks!

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You're welcome, but you need to follow thru with that in 1981, buyers were paying an additional 10% in interest each and every year. Meaning the 69K home was costing them an addition 6900 in that first year, likely 6400 the second, 6100 the third, 5900 the 4th, etc, etc. In the 18 years that they pay on that home till the rates get to current levels in 2000 they'd pay 100% of the original purchase price in additional interest. That has to be factored into the cost. That means, the buyer in 1981 would have 6 years salary in the purchase cost, compared to those in 2024.

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Yeah, dont bring facts to the table

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Paying interest to park your money in the wall paper of your home only to take it out and pay interest again is building equity


Idiots

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My position is its better for a 22yr to rent vs wasting money on the shiteholes you have posted as examples of non shiteholes at 150k

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Ok. Fine with me. You might be right. Most of the young people that I know with college degrees are too stupid and too lazy to repair anything. Probably no way they could learn any woodworking/repairing skills.

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. You might be right. Most of the young people that I know with college degrees are too stupid and too lazy to repair anything. Probably no way they could learn any woodworking/repairing skills.

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Just another reason why putting down 20% on a home is stupid

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Maybe if you're financially illiterate.

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Says the guy thinking comparing 1600 ft2 homes in 1985 to 2200 ft2 homes in 2024 establishes relative affordability.

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Just another reason why putting down 20% on a home is stupid

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Then don't. Fine with me if you rent. To me purchasing a less than perfect home, putting 20% down, doing work on that home over 4-5 years, building memories with the ones you love, while learning valuable skills is a good thing. Assuming that home appreciates only 3% a year over the 5 years you live there, a 150K shithole you call it will be worth around 170K. If you make 10 to 15K improvements then you're at 185K.Sell it for 175K. You've paid principal down 20K+, your down payment was 30K and you spent 10K on improvements. So your loan is 100K. You walk away with 75K (take 10K and replace what you spent on improvements). You had to live somewhere anyway.

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Do people live in square footage or do people live in homes?

The median home is less affordable. End of story.

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And you just got done giving another poster shite about financial illiteracy.

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Fixing that obviously involves building smaller homes.

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Who is stopping you?