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][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]

You are saying that houses are 
unaffordable unless payiments are under 30% of someones income. That is an absurdly low cutoff that is not based in reality. People are able to easily qualify for a mortgage with a DTI up to 40%. With a 20% downpayment this house is affordable for someone with a household Income of 100k, with a 10% downpayment this house is affordable to someone with a household income of 115k. The median household income in MOCO is 130k, so this house is affordable people with a household income that is 75% of the median in the county. It is an affordable starter home for people with moderate income levels in the county.[/quote]
Yikes, foreclosure or bankruptcy advice [/quote]

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