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equalizer.
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February 19, 2008 at 12:52 PM #11861February 19, 2008 at 1:14 PM #155629
davelj
ParticipantFrom the article:
“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
February 19, 2008 at 1:14 PM #155911ParticipantFrom the article:
“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
February 19, 2008 at 1:14 PM #155913ParticipantFrom the article:
“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
February 19, 2008 at 1:14 PM #155932ParticipantFrom the article:
“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
February 19, 2008 at 1:14 PM #156008ParticipantFrom the article:
“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
February 19, 2008 at 1:31 PM #155644Anonymous
Guestno, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.
February 19, 2008 at 1:31 PM #155926Guestno, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.
February 19, 2008 at 1:31 PM #155928Guestno, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.
February 19, 2008 at 1:31 PM #155946Guestno, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.
February 19, 2008 at 1:31 PM #156023Guestno, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.
February 19, 2008 at 1:32 PM #155649kewp
ParticipantApparently you are all too poor to own a home, so they are just going to sit empty and rot forever.
Sorry, folks.
If you lose your job you can always squat in them, though.
February 19, 2008 at 1:32 PM #155931ParticipantApparently you are all too poor to own a home, so they are just going to sit empty and rot forever.
Sorry, folks.
If you lose your job you can always squat in them, though.
February 19, 2008 at 1:32 PM #155933ParticipantApparently you are all too poor to own a home, so they are just going to sit empty and rot forever.
Sorry, folks.
If you lose your job you can always squat in them, though.
February 19, 2008 at 1:32 PM #155952ParticipantApparently you are all too poor to own a home, so they are just going to sit empty and rot forever.
Sorry, folks.
If you lose your job you can always squat in them, though.
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