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re: The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 9:24 am to stout
Posted on 3/5/24 at 9:24 am to stout
I bought a home fully knowing it's probably overvalued by like 30k or so. The risk of housing going absolutely insane with politicians calling it a right, combined with the fact I'd be paying rent anyways, was worth the risk.
2
Posted on 3/5/24 at 9:29 am to Jcorye1
quote:
I bought a home fully knowing it's probably overvalued by like 30k or so. The risk of housing going absolutely insane with politicians calling it a right, combined with the fact I'd be paying rent anyways, was worth the risk.
We got lucky and have a ton of equity. Bought way under the market because I bought a storm-damaged house. We were going to flip it and build on some land I bought years ago but even as a contractor, I am not doing that any time soon. They will have to pry me out of this house and force me to take on a mortgage at today's rates.
The only thing left is to replace the windows on this house and it is all brand new. The window quotes I have gotten so far are all around $30K no labor. I am waiting hoping it comes down as demand slows.
Posted on 3/5/24 at 9:33 am to Jcorye1
Yup I am the guy reminding you youngsters America had interest rates held way to low for way to long for politicians to buy votes …
.. we were buying house right out of college with rates in the low to mid teens.. but making our own coffee at home…
Btw my stock portfolio is at all time high and fixed income providing a stream of income finally.
.. we were buying house right out of college with rates in the low to mid teens.. but making our own coffee at home…
Btw my stock portfolio is at all time high and fixed income providing a stream of income finally.
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