by AD ➕follow (1) 💰tip ignore
« First « Previous Comments 720 - 759 of 5,566 Next » Last » Search these comments
How many people are paying more than 30% gross income as their mortgage payment?
zzyzzx says
How many people are paying more than 30% gross income as their mortgage payment?
4.8% for me. Anything higher, personally than 15% is not doable. As we're witnessing with massive inflation on goods, fuels, etc.
You also mention 30% GROSS income. That's more like 20% after taxes. 3x's income has generally been accurate. $100k, you get a $300k home as the max. Interest rates matter, but if you stick to that, you should be fine owning. 4-5X's income is maxed out even in low interest rate environments.
So my max would be $3,750/mo PITI at 15%. I could go to probably $5-6k/mo but I'd be house poor. Not doing that shit. I like travel. And I don't like being home.
I think 30%-40% of income is a good limit though
House poor. I get that's probably what most owners here are paying. You sleep in a house, shower, go to work, cook a meal or two and then sleep. Not worth 40% of my income.
mell says
I think 30%-40% of income is a good limit though
House poor. I get that's probably what most owners here are paying. You sleep in a house, shower, go to work, cook a meal or two and then sleep. Not worth 40% of my income. I can go places and have others cook the meal, give me booze, clean my room, etc with the difference between 4.8% and 30-40%. That's my take.
I admittedly did get lucky on my purchase and the income increase was earned (still too low). At 40% though I'm looking at a $1M house in IL. Where I want to live that would be insane market wise. Large land 15+ acres, maybe a pond or creek, pool, 6k square feet, etc. I don't need that. With kids we're not home. And when we retire and are empty nesters we won't need that much space.
I want to invest in a vacation rental in the Caribbean. Preferably PR or USVI for passport and land ownership wit...
I consider the primary home important.
WookieMan says
House poor. I get that's probably what most owners here are paying. You sleep in a house, shower, go to work, cook a meal or two and then sleep. Not worth 40% of my income.
I agree with your remark.
But here in the Cool And Hip Bay Area, I am mocked and belittled by self-identified "locals" (mostly folks who moved to here from elsewhere) because "I Don't Get It". "It's Different Here".
mell says
I consider the primary home important.
And that's fine. I believe you've said you have kids though. How often are you actually home? Entertaining? Even just relaxing with the family?
For me with 3 kids it's a trivially stupid little amount of time for the cost when I'm home. As mentioned in the past I like travel. Usually gone 45 days a year. So I piss away almost 2 months of mortgage not using the house. Non-holiday/weekend I'm at the house 2-3 hours, rest is sleeping and showering after ours and the kids activities. Wife is gone 3 months a year. We're just not at our house much. Which I think is good.
And I don't begrudge anyone for wanting a nicer/expensive home in a better climate. I live in IL, so November to March it's a shit show with winter. But I've got Montana, Mexico, Dominican and potentially Germany on the books through March. Might do Mi...
Eman says
Can you share the link(s) where the bank called the loan due on Blackrock and Zillow?
Can you learn to read first?
ZipperTits says
Eman says
Can you share the link(s) where the bank called the loan due on Blackrock and Zillow?
Can you learn to read first?
Nah…, you keep speculating. Zillow started to liquidate their “flip” real estate portfolio late last year when 30-year fixed mortgage was sub 3%. Real estate prices didn’t collapse late last year for any bank/lender to call the loans due. That’s fine. Keep believing what you want to believe.
If this is not racist, what is? Why only blacks and Hispanics and not other races?
The Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland.
What’s the source?
Eman says
ZipperTits says
Eman says
Can you share the link(s) where the bank called the loan due on Blackrock and Zillow?
Can you learn to read first?
Nah…, you keep speculating. Zillow started to liquidate their “flip” real estate portfolio late last year when 30-year fixed mortgage was sub 3%. Real estate prices didn’t collapse late last year for any bank/lender to call the loans due. That’s fine. Keep believing what you want to believe.
Maybe it's because they forecast higher rates were on the way?
Check out these price cuts:
Check out these price cuts:
Booger says
Check out these price cuts:
From $6M sold in 2018 to $48M asking today? Pie-in-the sky bullshit asking price.
Eric Holder says
Booger says
Check out these price cuts:
From $6M sold in 2018 to $48M asking today? Pie-in-the sky bullshit asking price.
I should squat there and own it :)
« First « Previous Comments 720 - 759 of 5,566 Next » Last » Search these comments
https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.