[sd_bear]

emith – I’m curious why you think it only needs another 10% haircut. Median household income is 60k. If a 3 bed/2 bath 450k house only takes a 10% haircut you are still looking at nearly a 400k house. Even if you had the $80000 down payment you are going to be paying around 2500 a month after taxes/insurance at 6% interest rate. You can rent that house for probably 1800.

I think it needs a bit more of a decrease for that median household income (or even 75th percentile) to be able purchase a house like that and thats assuming you have 20% down.

Even the houses on the lower end of the pricing spectrum in Mira Mesa will need bigger than 10% drops to reach affordability and match rents.

[sd_bear]

emith – I’m curious why you think it only needs another 10% haircut. Median household income is 60k. If a 3 bed/2 bath 450k house only takes a 10% haircut you are still looking at nearly a 400k house. Even if you had the $80000 down payment you are going to be paying around 2500 a month after taxes/insurance at 6% interest rate. You can rent that house for probably 1800.

I think it needs a bit more of a decrease for that median household income (or even 75th percentile) to be able purchase a house like that and thats assuming you have 20% down.

Even the houses on the lower end of the pricing spectrum in Mira Mesa will need bigger than 10% drops to reach affordability and match rents.

[sd_bear]

emith – I’m curious why you think it only needs another 10% haircut. Median household income is 60k. If a 3 bed/2 bath 450k house only takes a 10% haircut you are still looking at nearly a 400k house. Even if you had the $80000 down payment you are going to be paying around 2500 a month after taxes/insurance at 6% interest rate. You can rent that house for probably 1800.

I think it needs a bit more of a decrease for that median household income (or even 75th percentile) to be able purchase a house like that and thats assuming you have 20% down.

Even the houses on the lower end of the pricing spectrum in Mira Mesa will need bigger than 10% drops to reach affordability and match rents.

[sd_bear]

emith – I’m curious why you think it only needs another 10% haircut. Median household income is 60k. If a 3 bed/2 bath 450k house only takes a 10% haircut you are still looking at nearly a 400k house. Even if you had the $80000 down payment you are going to be paying around 2500 a month after taxes/insurance at 6% interest rate. You can rent that house for probably 1800.

I think it needs a bit more of a decrease for that median household income (or even 75th percentile) to be able purchase a house like that and thats assuming you have 20% down.

Even the houses on the lower end of the pricing spectrum in Mira Mesa will need bigger than 10% drops to reach affordability and match rents.

[sd_bear]

emith – I’m curious why you think it only needs another 10% haircut. Median household income is 60k. If a 3 bed/2 bath 450k house only takes a 10% haircut you are still looking at nearly a 400k house. Even if you had the $80000 down payment you are going to be paying around 2500 a month after taxes/insurance at 6% interest rate. You can rent that house for probably 1800.

I think it needs a bit more of a decrease for that median household income (or even 75th percentile) to be able purchase a house like that and thats assuming you have 20% down.

Even the houses on the lower end of the pricing spectrum in Mira Mesa will need bigger than 10% drops to reach affordability and match rents.

[sd_bear]

While we are on the topic of Buckeye fans, that is where I went to college. Unfortunately that’s all I can contribute to this conversation.

[sd_bear]

While we are on the topic of Buckeye fans, that is where I went to college. Unfortunately that’s all I can contribute to this conversation.

[sd_bear]

While we are on the topic of Buckeye fans, that is where I went to college. Unfortunately that’s all I can contribute to this conversation.

[sd_bear]

While we are on the topic of Buckeye fans, that is where I went to college. Unfortunately that’s all I can contribute to this conversation.

[sd_bear]

While we are on the topic of Buckeye fans, that is where I went to college. Unfortunately that’s all I can contribute to this conversation.

[sd_bear]

This is just the information I was looking for. So it really looks like it won’t make a difference post 775 and I shouldn’t even bother trying to get it higher. I’ll just keep paying off the CC’s every month and accumulating $$$ for a down payment.

I understand what you are saying about the opportunity cost, but I am generally very opposed to sinking myself into any unneeded dead just to bank an extra 1000 at the cost of credit score and my own personal time for money management. The only debt I’m hoping to have is my mortgage, and I’m trying to minimize that as well.

[sd_bear]

This is just the information I was looking for. So it really looks like it won’t make a difference post 775 and I shouldn’t even bother trying to get it higher. I’ll just keep paying off the CC’s every month and accumulating $$$ for a down payment.

I understand what you are saying about the opportunity cost, but I am generally very opposed to sinking myself into any unneeded dead just to bank an extra 1000 at the cost of credit score and my own personal time for money management. The only debt I’m hoping to have is my mortgage, and I’m trying to minimize that as well.

[sd_bear]

This is just the information I was looking for. So it really looks like it won’t make a difference post 775 and I shouldn’t even bother trying to get it higher. I’ll just keep paying off the CC’s every month and accumulating $$$ for a down payment.

I understand what you are saying about the opportunity cost, but I am generally very opposed to sinking myself into any unneeded dead just to bank an extra 1000 at the cost of credit score and my own personal time for money management. The only debt I’m hoping to have is my mortgage, and I’m trying to minimize that as well.

[sd_bear]

This is just the information I was looking for. So it really looks like it won’t make a difference post 775 and I shouldn’t even bother trying to get it higher. I’ll just keep paying off the CC’s every month and accumulating $$$ for a down payment.

I understand what you are saying about the opportunity cost, but I am generally very opposed to sinking myself into any unneeded dead just to bank an extra 1000 at the cost of credit score and my own personal time for money management. The only debt I’m hoping to have is my mortgage, and I’m trying to minimize that as well.

[sd_bear]

This is just the information I was looking for. So it really looks like it won’t make a difference post 775 and I shouldn’t even bother trying to get it higher. I’ll just keep paying off the CC’s every month and accumulating $$$ for a down payment.

I understand what you are saying about the opportunity cost, but I am generally very opposed to sinking myself into any unneeded dead just to bank an extra 1000 at the cost of credit score and my own personal time for money management. The only debt I’m hoping to have is my mortgage, and I’m trying to minimize that as well.

[Author]

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