BuzzH
Well-known member
I could move back into my rental...and hunt about anything I wanted to.
Home purchase
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Nick87
Well-known member
We've been getting record raises the last few years. Still say we're way behind what we were a short few years ago. Im not sure if its a race to the top or a race to the bottom at this point.
Nick87
Well-known member
When I was younger (granted that was a really good time to be buying). 20% down
was about half a years salary. Roughly. And a payment was was maybe a weeks pay. Now a years salary or more and probably closer to two weeks.
WapitiBob
Well-known member
We bought this house in 1993 for 81K, rented it for years then moved back in 2007. It's worth north of 600K now, no way we could afford it on retirement income. Best thing we ever did was pay this thing off. Oh, 600K+ and 1350sf LOL.
Potsie
Well-known member
No way we could afford to buy our place over again.
We bought in 2018 and refinanced a year later to a 2.25% on a 15 year note. We turned down a 2x cash offer over purchase price during Covid as it wouldn’t move the needle anywhere for us. Our area continues to grow, and to buy something similar would easily push us into a monthly payment that would leave us house poor.
We bought in 2018 and refinanced a year later to a 2.25% on a 15 year note. We turned down a 2x cash offer over purchase price during Covid as it wouldn’t move the needle anywhere for us. Our area continues to grow, and to buy something similar would easily push us into a monthly payment that would leave us house poor.
BigHornRam
Well-known member
It will be interesting to jump into the housing market again. Try to squirrel away as much cash as possible.
I find it rich that you decry a system you are no doubt taking advantage of.
Unless of course you plan to sell your house well below market value, and off load your rental to help the housing shortage?
I find it rich that you decry a system you are no doubt taking advantage of.
Unless of course you plan to sell your house well below market value, and off load your rental to help the housing shortage?
We have a kid in his late twenties. Learned old school and floats everything. And he's good and not cheap. mtmuley
Forkyfinder
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Interesting story.
Another thing thats true - same kid starting out today is hosed. All while paying a higher percentage of taxes, and absolute amount, for boomer reparations (ss + medicare).
Forkyfinder
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You think he could afford a 2200 sq ft home where you live on his hourly wage within 3/4 years?
BigHornRam
Well-known member
Yes.
In the Root? mtmuley
BigHornRam
Well-known member
Late twenties. Born in the 90's. Imagine that @Forkyfinder
BigHornRam
Well-known member
Sure. I also know a young tile guy that works with his dad. Just got married, and built a new house just south of Stevensville. Kid works his butt off.
Two incomes I bet. mtmuley
Forkyfinder
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His and dads.
SAJ-99
Well-known member
Good to hear that learning a skill, getting very good at it, and working hard still pays off. What happens to the "average" or below guy? Do they do contract work through big box stores or does reputation drive work so much that they have to leave town?
Nick87
Well-known member
Im not even considered a young guy. But if my wife didn't have her part time income. There isn't a snowballs chance in hell. Very fortunate to have my parents willing to help out when we are both working Saturdays, otherwise the juice wouldn't be worth the squeeze.
There are levels of quality in construction of homes. Everyone finds their level. mtmuley
SAJ-99
Well-known member
Yeah, but I can't image being the "low quality, cheap" guy to be very lucrative.
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