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

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As an accountant

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Of course. No wonder you penny pinchers would suggest a crack den

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Every house at 150k thats been posted has been a shitehole

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This is where you lose your argument, SDV. Given that attitude, you'd never live in locations MsNC and I considered starter homes. That's fine. By corollary though, you'll struggle to consider places we lived later on.

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450 gets you a starter home

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Yet the MEDIAN US home is ~$402K. Again, THAT is where this BS loses credibility.

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Of course. No wonder you penny pinchers would suggest a crack den

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Fully renovated home = crack den

No wonder why I retired early and you are still working

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Damn I put 10% down on my first home and my pmi was 56 a month on a 400k mortgage.

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How long ago?

It's been a while since I paid PMI but remember it like you're quoting, barely a blip. Maybe it's like everything else insurance-related and has inflated beyond reason.

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This is where you lose your argument, SDV

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Ummm. They posted a very nice starter home at 250k

That payment would be about 300 more

If you think crackhouses (please look at the streetview on the link cause you can see the two shirtless crackheads as neighbors) are great starters then yeah I lost the argument

But we had specific parameters to this discussion

This is the same site that says "Never go to a MLK Boulevard at night" while then telling us the house a block away from MLK Boulevard is a good starter home option

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Thanks!
Led by the nose.

There is a 220% monthly payment difference on 6% vs 16% rates for a 30yr loan.

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Noone was paying 16% loans and if they were stupid enough to do that, they refinanced when rates got down to the 10%. Others in this thread said they paid down the interest rate to 13% at the height of rates.

Median family income 1981: 22390
Median home price 1981: 65446
Mortgage at 20% down: 52356
Interest 13%
Total paid after 30 years: 208498
Total paid/median income: 9.31

Median family income 2023(latest data): 80610
Median home price 2025: 429000
Mortgage at 20% down: 343200
Interest 6.7%
Total paid after 30 years: 797253
Total paid/median income: 9.89

Give me the high interest rates and natural economy without the massive inflation, imported third world, nanny state and social degeneracy any day and twice on Sunday

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Seems to me that if there were a demand for smaller homes, a builder would step up and provide.

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The problem is zoning and land cost. Where I live, my lot is 1/4 acre. The land itself is valued on the tax roll at $95k, so we're looking at an acre cost of $380k and I'm about 25 miles from Downtown Dallas. The closer you get to the city center, the higher the land cost is.

My niece in Shreveport married two years ago and they purchased their starter home, a double-wide on 3 acres of land and the entire back of their land is shoreline on a pretty large lake. Included concrete driveway that's about 220' long, a two car covered parking area, and a 20'x30'workshop, and a concrete boat launch and wooden pier: $275k.

So, it is one example, for sure, but they were willing to go out away from town about ten miles south of Shreveport. I think,for a first home, this is pretty good.