Reply to Getting desperate: What would you suggest to a first time home buyer?

Forum Index » Real Estate

Reply to "Getting desperate: What would you suggest to a first time home buyer?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My coworker is drinking every night thinking about this. Praying for a crash.[/quote]
Ha, yeah me too. 3 years ago we were trying to save for a $1.2M home, now that we could afford that, the same home is $1.4-1.5M. In another 3 when we can afford this, those homes will be $1.7M. F this mess. We are just going to throw our money away on rent and live in the home we wish we could buy in the neighborhood we love. Funny thing is, we are so rich ($270HHI) but we can't afford a 3br home. Nuts.[/quote]

Rich? By comparison my 21 year old daughter is starting at 85k her boyfriend 120k both promised 10 percent bonuses. That is $213,500 combined. They are both planning on getting separate apts with roommates in the cheaper part of town. Dad but it is at point 270k is the combined salarying of a 24 year old couple dating. Scary. Both my daughter and her boyfriend plan to do MBAs so they can afford a house one day.

Home prices will stall and salaries will catch up [/quote]
DP. I wouldn’t be so sure about that. Esp in an inflationary environment. Although if you can pay MBA tuition for them that will help. We are dual lawyers with a 500+ hhi and are having trouble finding a 3BD place because we made the unforeseeably stupid decision of paying our loans off first. Fast forward today we couldn’t paid back loans at an interest rate lower than inflation (we refinanced) and if we had bought a house before paying the loans we would’ve had hundreds of thousands of appreciation. [/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