I’m house hunting and my dad loves to bring up the 17% interest rate he had on his first house so I looked up the average home cost and average salary for the year. He bought his home for 3x the average salary and got to be specific on the city.
I’m looking in a wide radius of a dozen cities and the low end of houses are 7x the average salary of my state. Working class cities. 7x the average salary. That is fucking CRAZY. If I hadn’t bought a shitty short sale condo during the housing crash (I fixed it up and it just sold for 3x what I paid), there is no way I’d ever own a house. I have to put all of my profits into the down payment to just barely afford the new mortgage and all I can think about is the people who didn’t get lucky like I did. It’s bullshit
I’m house hunting and my dad loves to bring up the 17% interest rate he had on his first house so I looked up the average home cost and average salary for the year. He bought his home for 3x the average salary and got to be specific on the city.
I’m looking in a wide radius of a dozen cities and the low end of houses are 7x the average salary of my state. Working class cities. 7x the average salary. That is fucking CRAZY. If I hadn’t bought a shitty short sale condo during the housing crash (I fixed it up and it just sold for 3x what I paid), there is no way I’d ever own a house. I have to put all of my profits into the down payment to just barely afford the new mortgage and all I can think about is the people who didn’t get lucky like I did. It’s bullshit