Reply to Is 300k the bare minimum income to buy a single family now?

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Reply to "Is 300k the bare minimum income to buy a single family now?"

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[quote=Anonymous][quote=Anonymous]If your job security is uncertain, I would still get on the property ladder with a townhouse.  You have to pay rent to live somewhere, if you are not taking advantage of building equity then you are missing out on growing your money.  [/quote]
agree. even with this current downturn (according to Zillow estimates), i stand by my decision to buy my townhouse and not put random offers into detached SFHs when the market was crazy in 2021, rife with love letters and such. the wife was more apprehensive, but when she looks at the dent we've been making on the mortgage and how that reflects into home equity, she becomes more supportive of the whole purchase. you need to have the ability to think in decades. a lot of people sadly live in the moment and cant imagine planning 5 years 10 years let alone 30 years which is the length of the mortgage. so many people recast their mortgages, endlessly lining the bank's pockets. you need an escape hatch from debt and wageslavery.[/quote]

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