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

[Wally]

No sense make an extra payments when you can put that money to work and make more interest than what you're paying

Seeing that house free and clear is worth it 100%.

These young guys have a mother of all mortgage payments. How long can they hold out in a strike situation?

 

[IVE GOTTA PACKAGE 4U]

Seeing that house free and clear is worth it 100%.

These young guys have a mother of all mortgage payments. How long can they hold out in a strike situation?

He sounds like he has his act together

 

[Over70irregs]

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.

When Blackstone invests $ it won’t be overseas where property can seized. They are guaranteed coming for your homes/apts/condos. The pension funds demand returns no matter who it is. Tighten your game guys.

 

[Over70irregs]

“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).

Check this program out. I laughed. This is a canary coal mine test moment.

https://www.sacbee.com/news/california/article274202870.html

 

[Sixth Punch Sense]

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.

My mortgage payment is fine it's the ing property tax that's killing me.

 

[Over70irregs]

My mortgage payment is fine it's the ing property tax that's killing me.

Yeah your truly never are free.

 

[Cementups]

Median price of a home here in PA is $249,000 and I can certainly handle that. In the exact area I live, the median is $209,000. Funny though is in the neighborhoods around me, the average home is $400k ish.

 

[scratch]

I'm making double payments with a pension check. We upsized and built a new house when I retired.

 

[Drink Craft Beer]

I still have 11yrs to pay off my teepee on wheels

 

[clean hairy]

I make 6.50

A week after taxes and inflation?

 

[Sacrificial Lamb]

I don’t even think I can even afford a Barbie dollhouse and knowing the way things are and are headed the gubment and California will somehow find a way to tax me on that too. Lmao

 

[kforte36]

“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).

22.4s don't.

 

[Jkloc420]

A week after taxes and inflation?

No that's my hourly

 

[Up In Smoke]

We teach the "rule of 1%" in our personal finance and investor education program. Home ownership isn't as financially attractive as it once was.

 

[raceanoncr]

My mortgage payment is fine it's the ing property tax that's killing me.

Ain't that the truth.

Last yr, assessment went up $30,000. They said your taxes won't go up. Guess what? Taxes went up. This yr, assessment went up another $40,000. They're saying....AGAIN...taxes won't go up. I'm thinking that maybe they're LYING to us? Maybe?

And, yes, house has been paid off for many yrs now.

 

[Brownwind]

We teach the "rule of 1%" in our personal finance and investor education program. Home ownership isn't as financially attractive as it once was.

Help us out here. The rule of 1%. I’m not sure if we’re all taught the same way.

 

[Up In Smoke]

Help us out here. The rule of 1%. I’m not sure if we’re all taught the same way.

It's a real estate rule where as your rent must cover 1% of the cost of the structure plus repairs. Say a house is for sale at 180k and needs 20k of short term repairs. If you can get 1% or 2000 per month, it's a viable purchase. The inverse is also true. If you can rent a space for less than 1% of the full finance and repair costs, it's better to rent.

 

[Brown287]

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.

Really demonstrates the failure in our national pay scale. Obviously if you’re a benefactor from it, you love it. But for those of us who don’t, it’s a joke.

 

[DELACROIX]

Really demonstrates the failure in our national pay scale. Obviously if you’re a benefactor from it, you love it. But for those of us who don’t, it’s a joke.

Always been two categories:

A. The ruling class

B. The peasants

The real issue is the disparities in wealth and power, The US is better than most but that two class system will never change.

The problem now is that the ruling class truly believes they are superior to the peasants (blue collar workers). Sure they give lip service to those less fortunate, but everyone knows that when it affects their own wealth or power they will show their true colors.

It seems that you have to be a borderline sociopath to succeed in politics and in the corporate world.

 

[Over70irregs]

Always been two categories:

A. The ruling class

B. The peasants

The real issue is the disparities in wealth and power, The US is better than most but that two class system will never change.

The problem now is that the ruling class truly believes they are superior to the peasants (blue collar workers). Sure they give lip service to those less fortunate, but everyone knows that when it affects their own wealth or power they will show their true colors.

It seems that you have to be a borderline sociopath to succeed in politics and in the corporate world.

This might be the problem