Study: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.

Comments

• qjkxbmwvz@startrek.website ⁨1⁩ ⁨hour⁩ ago

  VHCOL area (San Francisco) — “middle class” usually means household income of 300k or so.

  source
• Yawweee877h444@lemmy.world ⁨15⁩ ⁨hours⁩ ago

  “Afford” = go into debt for 30 years.

  source

  • TimewornTraveler@lemm.ee ⁨49⁩ ⁨minutes⁩ ago

    debt? our mortgage costs the same as my sister’s rent, but we’re not pissing our money away to a landlord every month. when we sell the house, we’ll be getting our value back and then some. even if we only stay a couple of years and merely break even, we’re essentially living rent free during this time

    source
  • pdxfed@lemmy.world ⁨7⁩ ⁨hours⁩ ago

    And who doesn’t feel at ease predicting stable employment for several decades for themselves? After all in a world of “at will” employment and executives that need to hit their numbers for that quarterly stock grant, barely any unions, deliberately anemic unemployment insurance benefits, who wouldn’t jump at the chance?

    source
  • Albbi@lemmy.ca ⁨10⁩ ⁨hours⁩ ago

    The house will appreciate more than the mortgage interest. It’s debt, but not bad debt.

    source

    • refurbishedrefurbisher@lemmy.sdf.org ⁨7⁩ ⁨hours⁩ ago

      That only matters if you ever plan on selling your home. Not everyone buys houses as an investment.

      source
• Etterra@discuss.online ⁨12⁩ ⁨hours⁩ ago

  Is it more expensive or less when the neighborhood has a giant sticky note looming over it?

  source

  • Obi@sopuli.xyz ⁨6⁩ ⁨hours⁩ ago

    Yeah I don’t know why it’s relevant in this picture but the giant liminal cube in the background really grabbed me, the more I look at it the more I want to give my soul to Zorg, destroyer of worlds.

    source
• suburban_hillbilly@lemmy.ml ⁨15⁩ ⁨hours⁩ ago

  Image

  source
• aesthelete@lemmy.world ⁨7⁩ ⁨hours⁩ ago

  Try it here, you have to make over $200k a year.

  source

  • Witchfire@lemmy.world ⁨6⁩ ⁨hours⁩ ago

    …for 30 years

    source
• dryfter@lemm.ee ⁨14⁩ ⁨hours⁩ ago

  looks at pay statement

  looks at $117,000 needed to “afford” a house

  looks back at pay statement and realizes the income works out to very close to 10 times LESS

  😐

  I knew I was poor, but damn dude.

  source