Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

Assuming you can put 20% down on a house, a 420,000 loan at ~5.5% interest over 15 years is $3,400/month just on the principle. Add in another monthly $150 for insurance and $500 for taxes (which is a very low estimate in any locality that isn’t cheap) that is over 4k/month mortgage.

A family making 100k/year is bringing home maybe 7k/month tops after taxes and health premiums and very modest retirement contribution.

That generously leaves 3k for everything else. Oh but childcare is easily 2k/month per kid. Even if you have a SAHP, 3k wouldn’t allow for much of an emergency fund with today’s grocery and healthcare prices. Oh and then guess what, a new HVAC is 10-15k. Need new tires on your car (didn’t even factor in a monthly payment) but there is $800+ gone. Good luck putting together an emergency fund or sending kids to college.

For comparison, I bought a $900k house with a 2.75% loan now worth $1.3M and have a 4k mortgage. We moved up to this from our 500k starter home except that starter home in our old neighborhood is now $900k and now the starter home is most likely the home you’ll be in for a very long time.

Families just starting out today and in such a worse situation than I was as a newly wed/new mom a decade ago.

WHAT? LMAO!

DP. Where’s the lie? Childcare is extremely expensive these days and that doesn’t guarantee quality

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

Assuming you can put 20% down on a house, a 420,000 loan at ~5.5% interest over 15 years is $3,400/month just on the principle. Add in another monthly $150 for insurance and $500 for taxes (which is a very low estimate in any locality that isn’t cheap) that is over 4k/month mortgage.

A family making 100k/year is bringing home maybe 7k/month tops after taxes and health premiums and very modest retirement contribution.

That generously leaves 3k for everything else. Oh but childcare is easily 2k/month per kid. Even if you have a SAHP, 3k wouldn’t allow for much of an emergency fund with today’s grocery and healthcare prices. Oh and then guess what, a new HVAC is 10-15k. Need new tires on your car (didn’t even factor in a monthly payment) but there is $800+ gone. Good luck putting together an emergency fund or sending kids to college.

For comparison, I bought a $900k house with a 2.75% loan now worth $1.3M and have a 4k mortgage. We moved up to this from our 500k starter home except that starter home in our old neighborhood is now $900k and now the starter home is most likely the home you’ll be in for a very long time.

Families just starting out today and in such a worse situation than I was as a newly wed/new mom a decade ago.

WHAT? LMAO!

Why are you laughing?

Honestly people should have to do a finance class at least as often as they renew their driver's license. Do that exercise where you have to look at rental ads and grocery flyers to figure out what you will spend to live.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

You’re smoking crack if you think a 100k salary can handle a 500k house with a 15 year loan at 7% interest.

And what kinds of houses are there for 500k that you can raise a family in nowadays? Small condo or townhouse in a semi sketchy area. Even my townhouse way outside the beltway is worth 600k now it’s ridiculous.

This is where most people mess up. Don't use regular housing loans they are scams. Wow.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

You’re smoking crack if you think a 100k salary can handle a 500k house with a 15 year loan at 7% interest.

And what kinds of houses are there for 500k that you can raise a family in nowadays? Small condo or townhouse in a semi sketchy area. Even my townhouse way outside the beltway is worth 600k now it’s ridiculous.

I have 7 houses now, 4 rental ones. We not only did it, but several times over the last 20+ years.

No, $160-180K a year for a cheaper home.

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

You’re smoking crack if you think a 100k salary can handle a 500k house with a 15 year loan at 7% interest.

And what kinds of houses are there for 500k that you can raise a family in nowadays? Small condo or townhouse in a semi sketchy area. Even my townhouse way outside the beltway is worth 600k now it’s ridiculous.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

Assuming you can put 20% down on a house, a 420,000 loan at ~5.5% interest over 15 years is $3,400/month just on the principle. Add in another monthly $150 for insurance and $500 for taxes (which is a very low estimate in any locality that isn’t cheap) that is over 4k/month mortgage.

A family making 100k/year is bringing home maybe 7k/month tops after taxes and health premiums and very modest retirement contribution.

That generously leaves 3k for everything else. Oh but childcare is easily 2k/month per kid. Even if you have a SAHP, 3k wouldn’t allow for much of an emergency fund with today’s grocery and healthcare prices. Oh and then guess what, a new HVAC is 10-15k. Need new tires on your car (didn’t even factor in a monthly payment) but there is $800+ gone. Good luck putting together an emergency fund or sending kids to college.

For comparison, I bought a $900k house with a 2.75% loan now worth $1.3M and have a 4k mortgage. We moved up to this from our 500k starter home except that starter home in our old neighborhood is now $900k and now the starter home is most likely the home you’ll be in for a very long time.

Families just starting out today and in such a worse situation than I was as a newly wed/new mom a decade ago.

WHAT? LMAO!

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

Assuming you can put 20% down on a house, a 420,000 loan at ~5.5% interest over 15 years is $3,400/month just on the principle. Add in another monthly $150 for insurance and $500 for taxes (which is a very low estimate in any locality that isn’t cheap) that is over 4k/month mortgage.

A family making 100k/year is bringing home maybe 7k/month tops after taxes and health premiums and very modest retirement contribution.

That generously leaves 3k for everything else. Oh but childcare is easily 2k/month per kid. Even if you have a SAHP, 3k wouldn’t allow for much of an emergency fund with today’s grocery and healthcare prices. Oh and then guess what, a new HVAC is 10-15k. Need new tires on your car (didn’t even factor in a monthly payment) but there is $800+ gone. Good luck putting together an emergency fund or sending kids to college.

For comparison, I bought a $900k house with a 2.75% loan now worth $1.3M and have a 4k mortgage. We moved up to this from our 500k starter home except that starter home in our old neighborhood is now $900k and now the starter home is most likely the home you’ll be in for a very long time.

Families just starting out today and in such a worse situation than I was as a newly wed/new mom a decade ago.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

Hold off to see if you still have a job. . There is going to be a major recession and housing prices will fall.

+1

Except it will be the great depression not recession

All major companies are going to do layoffs in all sectors.

Thank you MAGA morons.

Sold it all in April huh? Lot of wishing and hoping here. I’m a liberal and I’m pretty certain Great Depression 2 will not happen.

I think S&P 500 is more likely in the 7250-7500 range this time next year and housing market is not red hot but fairly stable.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

Hold off to see if you still have a job. . There is going to be a major recession and housing prices will fall.

+1

Except it will be the great depression not recession

All major companies are going to do layoffs in all sectors.

Thank you A.I.

FIFY

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

With that income you could buy a 500K house and pay it off in just 5 years or less.
If you say you couldn't, then you are wasting so much money somewhere.

100K income family should be able to pay off a 500K house in 15 years with no problem.

Anonymous wrote:

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

Hold off to see if you still have a job. . There is going to be a major recession and housing prices will fall.

+1

Except it will be the great depression not recession

All major companies are going to do layoffs in all sectors.

Thank you MAGA morons.

Your post is too stupid for any productive conversation

Anonymous wrote:Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right

Hold off to see if you still have a job. . There is going to be a major recession and housing prices will fall.

Feels impossible to buy a house with a 2 car driveway and a yard unless you have a stable 300k/yr income. I make around this much and am still holding off because I don’t feel secure in my position. I could pay the bills just fine but if income disappears tmrw I’m screwed and my industry is laying people off left and right