I’d love to know your version of “just barely” is you have two adults working full time in a 2 person household.
Maybe your mortgage is far higher then I’m imagining.
I live in an apartment, but it’s overpriced, and it’s just me. This world is designed to be a 2 person household.
So I have to imagine you’re living beyond your means. I’m living beyond my means too, but I also don’t have a decent wage either. So living at all is living beyond my means.
You should add up your whole house income, divide that number by 4, and THAT number should be what your mortgage shouldn’t be higher than.
I suspect your mortgage is probably much higher than that number.
Either that or we have different definitions of “just getting by”.
Lets use WA as an example. Average house costs 588k interest rate is about 7% now. So you’ll be paying $4300 per month. So man that’s rough but surely there are some cheaper that average units out there! If you want to be anywhere near where the majority of the jobs are even a lot drive away you are going to have a hard time getting below 450k or 3300 per month.
Well maybe you can rent cheaper right? 2BR 1.5 bath where again most of the jobs are can easily run you $2000-2500 which seems like a very nice savings however whereas your fixed rate mortgage is you know fixed your rent will probably exceed the payment on your mortgage within 10-12 years and since you have no equity you have no cushion to fall back on if you ever experience a downturn you could find yourself a bum on the street. Hell if you aren’t able to save anything you will definitely be heading for bum status when you get old enough that you can’t work. Holding on to being able to own something is an investment in not descending into desperate poverty later.
I think its weird how people don’t believe people can actually be struggling in America without also somehow being the source of their own problems. It’s like people like you have broken brains.
Yeah that inital response gave me the impression that they live in a completely different situation than what I, and most of the people I know IRL are experiencing. Typical rent prices out here are 120% the sum of 2 weeks of minimum wage pay, not including utilities
My rent is around 1800 euro, if I’d buy this apartment, my mortgage would be around 3000. That’s for more than half a mil. After 30 years I’d have paid off more than a mil.
The company I rent from just got their financing much earlier, and in very big quantities. (Eg it has 100s to 1000s apartments and houses.)
Every year I make more money, every year the place I live is more difficult to buy.
I’d love to know your version of “just barely” is you have two adults working full time in a 2 person household.
Maybe your mortgage is far higher then I’m imagining.
I live in an apartment, but it’s overpriced, and it’s just me. This world is designed to be a 2 person household.
So I have to imagine you’re living beyond your means. I’m living beyond my means too, but I also don’t have a decent wage either. So living at all is living beyond my means.
You should add up your whole house income, divide that number by 4, and THAT number should be what your mortgage shouldn’t be higher than.
I suspect your mortgage is probably much higher than that number.
Either that or we have different definitions of “just getting by”.
Lets use WA as an example. Average house costs 588k interest rate is about 7% now. So you’ll be paying $4300 per month. So man that’s rough but surely there are some cheaper that average units out there! If you want to be anywhere near where the majority of the jobs are even a lot drive away you are going to have a hard time getting below 450k or 3300 per month.
Well maybe you can rent cheaper right? 2BR 1.5 bath where again most of the jobs are can easily run you $2000-2500 which seems like a very nice savings however whereas your fixed rate mortgage is you know fixed your rent will probably exceed the payment on your mortgage within 10-12 years and since you have no equity you have no cushion to fall back on if you ever experience a downturn you could find yourself a bum on the street. Hell if you aren’t able to save anything you will definitely be heading for bum status when you get old enough that you can’t work. Holding on to being able to own something is an investment in not descending into desperate poverty later.
I think its weird how people don’t believe people can actually be struggling in America without also somehow being the source of their own problems. It’s like people like you have broken brains.
😆😆😆😆😆😆😆😆
That formula hasn’t been valid for like, 20 years?
Yeah that inital response gave me the impression that they live in a completely different situation than what I, and most of the people I know IRL are experiencing. Typical rent prices out here are 120% the sum of 2 weeks of minimum wage pay, not including utilities
≥ Mortgage You lost me there, renting is much more expensive than paying a mortgage off
Yep if you rent for 60 years you’ll have nothing and spend more by far than the cost of the mortgage.
My rent is around 1800 euro, if I’d buy this apartment, my mortgage would be around 3000. That’s for more than half a mil. After 30 years I’d have paid off more than a mil.
The company I rent from just got their financing much earlier, and in very big quantities. (Eg it has 100s to 1000s apartments and houses.)
Every year I make more money, every year the place I live is more difficult to buy.
Depends where and how you live. My rent is $800 a month, but some mortgages are thousands of dollars.
Where the fuck do you live with $800 rent? Middle of Montana? Dead center of Death Valley? Gtfo.
800 if split 5 ways probably
Ikr, just saw an ad for a nearby apartment wanting 1,200$ a month for a studio apartment… in Nebraska
Lakewood, a suburb of Cleveland. It’s overpriced as hell.
$800 Rent is cheap in this economy
Yeah, but I’m not in your economy. Average wage around here is lkke $10/hr.
You pay $500 less than the average American for rent. I think you may be lacking the perspective necessary to engage productively with this topic.
My rent is $500 less than whatever metric you’re using, but our local ecconomy is also lowers than yours.
Average wage here is 10/hr for a factory job. I’ve heard some places like Seattle make $20/hr just working at starbucks.
And keep in mind my rent is basically 1 room.
Again, the “how you live” thing again, in your opinion, what is the “correct” way to live?
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