I feel like I’m taking crazy pills. It’s easy to get out of this cycle. Most states will have First Time Homebuyers programs, and even if you’ve had a home before, not having a home for 3+ years can cause you to re-qualify again.
Live in a shithole for a while if you have to. OWNING a home is like paying yourself. It’s so much cheaper than renting, yes you have to fix things when they break, but you should want to learn those skills anyhow. Toilets, water pumps, hot water heaters, all that shit is pretty easy to fix yourself. Every penny you put into a house is like a savings account that doesn’t actually count against you. You get done with that loan, and the worth of that house is yours. You’re not paying $2k/month to someone else, with nothing to show for it. You’re literally paying $2k a month to YOURSELF. Want to move? Sell the house. Anything you’ve put into it, you’ll get back and then some.
Just whatever you do, get a FIXED rate mortgage. Or go for owner-financed. There’s lots of options and renters just make excuse after excuse after excuse why they won’t buy a house.
Living paycheck to paycheck is a valid reason how one can’t even save up to consider even buying a house. Soon with the rising prices it will even be living on borrowed time.
renters just make excuse after excuse after excuse why they won’t buy a house.
“wahhh I’m living paycheck to paycheck and may not be able to pay rent this month, let alone set aside a down-payment and closing costs for a house when houses are at an all time high price”
Poor people, amirite? Don’t they know that the solution to all their problems is to just get more money?
Weird that they can afford $2k in rent somehow, but can’t afford a $1200/mo mortgage…right? If they wanted more money, they would stop renting and pissing all of that money away, don’t you think?
Super weird that they can’t scrape together a down-payment in a time where 60% of Americans are living paycheck to paycheck and housing prices are at an all time high.
Also, with interest rates being as they are, mortgages are likely more expensive than rent. Im in the process of closing on a house, and I know our monthly cost is way the hell up from before.
Seriously though dude, you need to take a step back and realize you’re a bit out of touch. All your comments have big “millenials wouldn’t have money problems if they just stopped buying so much avacado toast” energy
Yet…again… First time home buyers programs take care of that. Also the reason I said that people need to get fixed rate mortgages if they’re going that route. You’re an idiot if you get an adjustable APR.
Would you be willing to share how you make that work? I can’t imagine living on my own for that much, let alone raising 3 kids. What does a weekly meal plan look like? Do you drive? What are rent and property values like in your area?
Edit: Just ran some numbers, and I can see how that could be possible, but it’s dangerously lean. We shouldn’t need to live like that. I commend you for making it work, but would like to say that you’re definitely worth more than $20k/yr (especially with all those home improvement skills, but regardless)
I can’t work like most people, I got cancer when I was 26 and it blew out my immune system (COVID-era was fun let me tell you!). I can’t make more money than what I make, as I need a schedule that’s flexible because I’m tired constantly. I utilize food banks whenever I can, I drive 25 minutes to work when I do, I have multiple paid off cars (because I buy them from auctions and repair them myself). The house was paid off 4-5 years ago, it was an almost-condemned write-off. It’s still not even finished, we’ve still got concrete under the carpet (again, auctions) and no proper padding. I can survive on almost nothing now because I managed to scrape together around $100k in 5 years by taking advantage of every last bit of help I could get.
It’s hard, but I guarantee people here are making way more than I do, with way healthier bodies.
I even had 2 years of non-stop code violation complaints from the neighborhood karens because I couldn’t keep up with the yard in my condition.
Additionally, I’ve always been in poverty - I can’t get a job worth a shit because I have no college, I could never afford it. What I DO have though, is friends who are real estate agents. They led me to real estate auctions and landed me this property.
Oh yeah, sure, I’ll buy a shitty house an hour away from where I work, in a small village with not even a grocery store! Good idea! And then I’ll be stuck there for the rest of my life because you can’t sell houses in these places, because they are shitty!
Buying a house or apartment is a several decades investment. If you’re settled in your life, sure, do that, but not everyone is in this case, and not everyone in this case can afford it.
BTW, so you know banks will not give you money these days? Half the requests are refused by banks in France these days because they’re waiting for the yields to increase again.
Just because things worked out for you doesn’t mean they work out for others. You’re not taking crazy pills, you’re lacking empathy and seem very out of touch with reality.
Every penny you put into a house is like a savings account that doesn’t actually count against you. You get done with that loan, and the worth of that house is yours.
How should I reconcile this with the statement “you should see housing as necessities rather than investments”?
You severely underestimate the number of people who lack ambition, life skills, discipline, and financial responsibility. It may seem easy to you but to people without these things, it’s like climbing a mountain.
Who has time to develop all that when you’re burned out, pushed to your limit at your job that barely covers your primary expenses?
I know, not the whole picture, but neither is what you’re saying. The first thing you list is ambition? I hope that’s not in order of importance because I don’t think most people lack ambition, I think they get stretched too thin and feel its hopeless no matter what.
Financial responsibility, life skills, these are important issues and more should be done to improve quality of it for the population. But discipline and ambition require a world where those get rewarded, and for some people they do, but for many that’s just not the case.
STOP…RENTING…
I feel like I’m taking crazy pills. It’s easy to get out of this cycle. Most states will have First Time Homebuyers programs, and even if you’ve had a home before, not having a home for 3+ years can cause you to re-qualify again.
Live in a shithole for a while if you have to. OWNING a home is like paying yourself. It’s so much cheaper than renting, yes you have to fix things when they break, but you should want to learn those skills anyhow. Toilets, water pumps, hot water heaters, all that shit is pretty easy to fix yourself. Every penny you put into a house is like a savings account that doesn’t actually count against you. You get done with that loan, and the worth of that house is yours. You’re not paying $2k/month to someone else, with nothing to show for it. You’re literally paying $2k a month to YOURSELF. Want to move? Sell the house. Anything you’ve put into it, you’ll get back and then some.
Just whatever you do, get a FIXED rate mortgage. Or go for owner-financed. There’s lots of options and renters just make excuse after excuse after excuse why they won’t buy a house.
Living paycheck to paycheck is a valid reason how one can’t even save up to consider even buying a house. Soon with the rising prices it will even be living on borrowed time.
“wahhh I’m living paycheck to paycheck and may not be able to pay rent this month, let alone set aside a down-payment and closing costs for a house when houses are at an all time high price”
Poor people, amirite? Don’t they know that the solution to all their problems is to just get more money?
Weird that they can afford $2k in rent somehow, but can’t afford a $1200/mo mortgage…right? If they wanted more money, they would stop renting and pissing all of that money away, don’t you think?
Super weird that they can’t scrape together a down-payment in a time where 60% of Americans are living paycheck to paycheck and housing prices are at an all time high.
Also, with interest rates being as they are, mortgages are likely more expensive than rent. Im in the process of closing on a house, and I know our monthly cost is way the hell up from before.
Seriously though dude, you need to take a step back and realize you’re a bit out of touch. All your comments have big “millenials wouldn’t have money problems if they just stopped buying so much avacado toast” energy
Yet…again… First time home buyers programs take care of that. Also the reason I said that people need to get fixed rate mortgages if they’re going that route. You’re an idiot if you get an adjustable APR.
First time home buyers programs pay your full down-payment for you? lol
This I such a privileged take that I don’t even know where to begin.
Really? Because I make less than $20k a year with 3 kids…tell me how privileged I am. I am FAR below what the poverty line is.
Would you be willing to share how you make that work? I can’t imagine living on my own for that much, let alone raising 3 kids. What does a weekly meal plan look like? Do you drive? What are rent and property values like in your area?
Edit: Just ran some numbers, and I can see how that could be possible, but it’s dangerously lean. We shouldn’t need to live like that. I commend you for making it work, but would like to say that you’re definitely worth more than $20k/yr (especially with all those home improvement skills, but regardless)
I can’t work like most people, I got cancer when I was 26 and it blew out my immune system (COVID-era was fun let me tell you!). I can’t make more money than what I make, as I need a schedule that’s flexible because I’m tired constantly. I utilize food banks whenever I can, I drive 25 minutes to work when I do, I have multiple paid off cars (because I buy them from auctions and repair them myself). The house was paid off 4-5 years ago, it was an almost-condemned write-off. It’s still not even finished, we’ve still got concrete under the carpet (again, auctions) and no proper padding. I can survive on almost nothing now because I managed to scrape together around $100k in 5 years by taking advantage of every last bit of help I could get.
It’s hard, but I guarantee people here are making way more than I do, with way healthier bodies.
I even had 2 years of non-stop code violation complaints from the neighborhood karens because I couldn’t keep up with the yard in my condition.
Additionally, I’ve always been in poverty - I can’t get a job worth a shit because I have no college, I could never afford it. What I DO have though, is friends who are real estate agents. They led me to real estate auctions and landed me this property.
Oh yeah, sure, I’ll buy a shitty house an hour away from where I work, in a small village with not even a grocery store! Good idea! And then I’ll be stuck there for the rest of my life because you can’t sell houses in these places, because they are shitty!
Buying a house or apartment is a several decades investment. If you’re settled in your life, sure, do that, but not everyone is in this case, and not everyone in this case can afford it.
BTW, so you know banks will not give you money these days? Half the requests are refused by banks in France these days because they’re waiting for the yields to increase again.
Just because things worked out for you doesn’t mean they work out for others. You’re not taking crazy pills, you’re lacking empathy and seem very out of touch with reality.
Just buy a house 4Head
My dude it takes me hours to hype myself up to make a phone call, the things you’re talking about simply aren’t possible for a lot of us.
Yo, I’ve been there. Have you considered therapy?
Therapy costs money lmao
How should I reconcile this with the statement “you should see housing as necessities rather than investments”?
You severely underestimate the number of people who lack ambition, life skills, discipline, and financial responsibility. It may seem easy to you but to people without these things, it’s like climbing a mountain.
Who has time to develop all that when you’re burned out, pushed to your limit at your job that barely covers your primary expenses?
I know, not the whole picture, but neither is what you’re saying. The first thing you list is ambition? I hope that’s not in order of importance because I don’t think most people lack ambition, I think they get stretched too thin and feel its hopeless no matter what.
Financial responsibility, life skills, these are important issues and more should be done to improve quality of it for the population. But discipline and ambition require a world where those get rewarded, and for some people they do, but for many that’s just not the case.