Are you making enough to make payments on a house????

Over70irregs

Over70irregs

Well-Known Member
Median Monthly House Payment, by State:
1. Hawaii: $4,900
2. California: $4,500
3. Massachusetts: $3,600
4. Washington: $3,500
5. New Jersey: $3,400
6. Colorado: $3,200
7. New Hampshire: $3,100
8. Oregon: $3,000
9. Utah: $3,000
10. New York: $2,900
11. Rhode Island: $2,800
12. Montana: $2,700
13. Idaho: $2,600
14. Connecticut: $2,600
15. Arizona: $2,500
An annual new home payment in California now requires 61% of the median resident's income.

The cheapest state is West Virginia, requiring 19% of annual income for a new home payment.

Buying a house has become a luxury.
 
B

Brownwind

Well-Known Member
Over70irregs said:
Median Monthly House Payment, by State:
1. Hawaii: $4,900
2. California: $4,500
3. Massachusetts: $3,600
4. Washington: $3,500
5. New Jersey: $3,400
6. Colorado: $3,200
7. New Hampshire: $3,100
8. Oregon: $3,000
9. Utah: $3,000
10. New York: $2,900
11. Rhode Island: $2,800
12. Montana: $2,700
13. Idaho: $2,600
14. Connecticut: $2,600
15. Arizona: $2,500
An annual new home payment in California now requires 61% of the median resident's income.

The cheapest state is West Virginia, requiring 19% of annual income for a new home payment.

Buying a house has become a luxury.
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Yep it ain’t cheap. Good news we have jobs that offer us enough hours to cover.
Live smart and you’ll be fine. You might have to buy a more basic second dwelling. Instead of a camp with hundreds of acres you might have to settle for a few dozen acres against public lands instead.
 
JustDeliverIt

JustDeliverIt

Well-Known Member
It has shot up the last few years. Been in my house only 13 years and my mortgage is barely over half for NY. Don’t want to think about what we would pay for the same house today.
 
DELACROIX

DELACROIX

In the Spirit of Honore' Daumier
JustDeliverIt said:
It has shot up the last few years. Been in my house only 13 years and my mortgage is barely over half for NY. Don’t want to think about what we would pay for the same house today.
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Another factor would be the rising costs of property taxes and housing insurance, those do not go away even if you pay off the mortgage…!. In my area those have doubled over the last ten years. When the mortgage rate was set at 3 % a couple of years ago young couples were buying homes for twice the amount than they were worth a year prior. Mortgage companies are now asking for large down payments sensing that there will be a housing crash similar to 2008.
 
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DELACROIX

DELACROIX

In the Spirit of Honore' Daumier
Brownwind said:
Yep it ain’t cheap. Good news we have jobs that offer us enough hours to cover.
Live smart and you’ll be fine. You might have to buy a more basic second dwelling. Instead of a camp with hundreds of acres you might have to settle for a few dozen acres against public lands instead.
Click to expand...

“Good news we have jobs that offer us enough to cover”

Not sure about that …

Unfortunately it may take a couple to clear 100 grand a year each to be able to afford a standard 3 bedroom 2 bath house. In some areas make that 200,000 a year. (California).
 
B

Brownwind

Well-Known Member
DELACROIX said:
“Good news we have jobs that offer us enough to cover”

Not sure about that …

Unfortunately it may take a couple to clear 100 grand a year each to be able to afford a standard 3 bedroom 2 bath house. In some areas make that 200,000 a year. (California).
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Yeah it’s definitely not cheap. Realistically most of us would probably not have what we do if we had to start over. A lot of us don’t have to worry about it since we are paid for but you’re correct about the taxes and insurances.
Huge difference in where we live on this forum. ( I don’t think I could stand living in a crowded area) . Choices have to be made based on what is important to you.
 
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