Reply to Genz and millennials don't want your small starter homes want forever homes now

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Three starter homes for sale in Rockville for $499,000 near metro. There are starter homes. Just not in Georgetown or McLean

https://www.redfin.com/MD/Rockville/1221-Highwood-Rd-20851/home/10512952 [/quote]

$4040 a month in PITI means you need to be making almost $170k for it to be affordable. That's not a starter home income.[/quote]

My 24 year old daughter makes 90k and my 23 year old daughter makes 80K. If they wanted to buy that house together they make $170k. A cop and nurse  easily buys that home at a young age.

And there is a thing as second jobs and boarders. My MIL moved to US at 19 and they bought a house after 8 years. A very small fixer upper cape on a 40x100 . plot my MIL was a seamstress, he was a watchmaker 40 hours a week and tool and die guy the other 20 hours. So between the two of them they worked 100 hours a week. They house they bought had two borders upstairs. Older men, they got three meals daily. MY MIL kept them for a few years and her two kids slept in living room downstairs. Husband kept up 60 hours a week and she did night shift part time at supermarket up the block. Was not easy People forget how hard it was. They just look at the cheap prices. My own mom as a full time worker only made $40 dollars a week when she got married. After bills and such she be lucky to save 4-5 dollars a week. Homes were cheap. But even at 15K for a home imagine saving up for it $5 dollars a week to get down payment of 25 percent as pre fannie mae and freddie mac loans banks often wanted more down.

And on home above no one says you have to live in it. My friend bought a home at 26 by living at home. He bought a SFH with a tenant in place. He continued to live at home till married at 35. They he moved to basement of home he owned. He then had two kids by 40 they kicked out tenants as mortgage now paid off as he prepaid. They people ask him how do you afford such an expensive home on a blue collar salary. Well that is how you do it.            [/quote]

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