My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • @cm0002English
    7•2 months ago

    That’s great, in theory. In reality, you’ll get stuck in a perpetual savings cycle like OP and in many cases never reach the mythical threshold.

    200k savings sounds nice, but if you have to spend 5 years saving and housing prices jump 80, 90, 200% in that time that savings lead gets entirely erased.

    You can always play around with your interest rate later on, but you can never change what you paid for the house

    • sunzu2
      1•2 months ago

      housing prices jump 80, 90, 200%

      Happened once and we are currently dealing with the consequences., tbd