Reply to Why is DCUM SO conservative with housing?

Forum Index » Money and Finances

Reply to "Why is DCUM SO conservative with housing?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]On another thread, someone asked how much house they can afford with a $300-$400,000 HHI.  Some posters gave reasonable answers but others responded by saying their home cost less than they earn in a year!

https://www.longtermtrends.net/home-price-median-annual-income-ratio/

As shown in this chart, for most of this century, home prices have been more than 5x the median household income (and are currently at a staggering 7x income!).  So yes, if your HHI is a relatively secure 400K, you can get that $1.7 million house.  You don’t have to stick to 800K.  More expensive homes are more expensive for a reason, either location/commute, large enough to accommodate everyone, good school districts, beauty/renovations, etc.  Why do so many on DCUM insist on lowering their standard of living by being so unreasonably stingy with housing?[/quote]

Let's be real here.  DCUM is full of rich kids that got a huge downpayment from mommy and daddy and didn't have to struggle through life.  Their idea of struggle is having to go to a second Starbucks because the first one was out of chai tea.  They don't understand how someone would need to move to the exurbs to afford their first home or why someone would buy a house more than 3x times their home income.  I would just ignore them.  They don't give good advice.  Advice on 3x income is even worse if we are truly in a time of moderate to high inflation because it's better to be locked into a lower rate and a more expensive house that you're paying back with inflated dollars than buying a cheap house.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics