Hear about how much debt everyone in the US has all the time, curious about some of your stories!
My bad debt is 10k left on a school loan from a for profit school that is now out of business.
Only other debt is house.
So how are you all doing with debt management?
Fuckin debt free 😎
Own my car 😎
College educated 😎
Gainfully employed 😎
Making more than the average household in my state, solo 😎
So is my gf 😎
Still cannot afford a house 😢
Same, but without the SO to help.
New head canon, this is a government conspiracy to push polygamy. I will need at least two wives and three husbands to afford a house.
Jokes on them my girlfriend’s a stay at home mom, polyamory ain’t doing shit for our financials
You need to maximize your financial potential. Get 5 husbands, why assume that 25% lower income per wife?
I’m in the exact same boat, to the letter. It’s been great watching interest rates and inflation eliminate 60% of my home buying power in the last year.
You know what’s neat?
In 2008 the economy tanked because the banks had made a habit of cough approving mortgages that they knew people couldn’t afford in the long run. Then they auctioned off those subprime mortgages to smaller banks, and played hot potato until oopsie, economic depression.
If we’re in this boat, who the fuck is buying a home, who approved their loan, and how the fuck is 2008 not right around the corner again?
Good thing we bailed them out.
There’s no subprime market ready to collapse. This isn’t a housing bubble. The increase in prices is partially demand and partially inflationary imo.
Interest rates will keep prices level but we aren’t going to see a crash cuz all those companies are cash flush after the ppp fraud and rental Rates skyrocketing. The only houses on the market are ppl who have to sell or ppl who died.
No one wants to jump out of a 3.2% mtg and into an 8% one
I think the interest rate has a lot to do with the declining value of commercial real estate. I think the banks are trying to cover losses. Small businesses going fully remote makes it difficult to sling commercial real estate at the old rates.
I think this is also behind the odd fetish of returning to the office we read so much about.
I have a meme for you: https://lemmy.world/post/6902250
I looked at a 400k home that literally had standing water in the basement at the time of the showing.
That would cost me and my gf a solid ~4k/month for 30 years with a 20% down payment.
Bank profits over $1M
If it’s not murder house in middle of nowhere, it’s out of budget.
Like tiny homes are becoming a thing… but like smallest legal home lots are 250k in most cities. Feels like middle of nowhere is only place to be.
Wtf that’s fucked up
The American Dream is dead.
The American Caste System is based on land ownership.
Lol looking at some of the debt ledgers in here, I bet you “can”
Oh, I “can”. I just know that $4000/mo is not what we can “afford”. We’d sooner squeeze into her apartment for $1000/mo and not be responsible for anything.
I mentioned in this thread somewhere that I believe we’re in for another 2008 collapse. If I cannot afford a mortgage who the fuck is signing those papers? Same uneducated buyers and predatory lenders as in 2003-2008. I predict a collapse starting this time next year based on I’m high and I just woke up.
dude same