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/biz/ - Business & Finance

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55909356 No.55909356 [Reply] [Original]

Say you put 20% or $200,000 down. You owe 800k on the house with your loyal wife. After taxes, insurance and home owner fees you have to pay $6,500 a month to the bank. You also have 2 kids to feed and send to school so add an additional $3,000 a month (Low end) to the cost of family living/education/entertainment. That's almost 10,000 a month expenditures or $120,000 a year just to sustain a life and feed a family. This does not include saving for retirement or doing any kind of spending outside of your strict budget. Even a couple making $250,000 a year pre-tax will have a difficult time living like this.

>> No.55909367

>>55909356
>Washington
Cuck state, if you move there you're retarded.

>> No.55909368

take the expat pill. it wont last forever

>> No.55909374

>>55909367
no shit, but its not just washington (Where I would never live) most houses in decent safe white neighborhoods are 1 million plus. This applies to living in any state.

>> No.55909377

>>55909356
do you have to send them to a private school though?

>> No.55909394

>>55909356
just refinance when rates plummet again

>> No.55909412

>>55909394
>Yes goy, just lock into this 20 year high 7% interest rate for the next 30 years.
>Don't worry goy you can refinance at a lower rate very soon!
>I promise goy!

Rates are not going much lower from here. Probably they will be raised again this year. Thats they trap that everyone is missing.

>> No.55909414
File: 245 KB, 1024x805, c7845783c54deac6fa683a7e220f0e6e6769a94cb9add60df1e52818a54eceef.jpg [View same] [iqdb] [saucenao] [google]
55909414

>>55909356
>DUDE JUST MOVE TO A HECKIN BASTE RURAL TRAD TOWN LMAO

>> No.55909424

>>55909356

I mean at least the housing market won't crash.

>> No.55909436

>>55909414
even rural trad towns are asking for $200,000 for a 2 bedroom 1 bathroom 1000 sqft house.

>> No.55909594
File: 78 KB, 857x856, microsoft.png [View same] [iqdb] [saucenao] [google]
55909594

>>55909356
Imagine being a low IQ chud who can't afford a million dollar home because they never learned to code.

>> No.55909621
File: 182 KB, 1013x675, McDonald's wages.jpg [View same] [iqdb] [saucenao] [google]
55909621

>>55909436
Because minimum wage is essentially $15/hour now.

You can work at McDonalds and afford a 200k home.

>> No.55909656

>>55909621
you need to make like $75k a year to comfortably afford a $200k home, retard. and that's with 20% down.

>> No.55909668

>>55909367
Explain please. Spokane looks good

>> No.55909689
File: 413 KB, 1318x450, 1692720063787392.png [View same] [iqdb] [saucenao] [google]
55909689

>>55909594
hello 20 year old comp sci student who still thinks hes going to find an entry level job.

>> No.55909705

>>55909656
No you don't. Your monthly payment for a $200k house including mortgage and taxes is going to be around $1300. You can afford that on a $40k salary.

>> No.55909988

>>55909594
That’s for H1B chads. Not you amerifat.

>> No.55910008

>>55909356
>Be Bank
>literally sit on billions of dollars
>Pay cash
>no interest
>rent out to wagies for $5k month

>> No.55910088

>>55909705
yes, plus another $300/month for insurance and utilities. you're up to $1600/month. now add $450/month for food, $100/month for cell and internet, $200/month for car insurance and fuel so you can get back to work. that's about $2400/month total.

$40k is $30k after taxes and health insurance, or $2.5k a month. you're house poor.

$75k is $55k after taxes and health insurance, or $4.5k a month. now assume you contribute 12% to 401k. that's $4k/month. you're saving a modest $1500 a month, which is reasonable if you want to save for the inevitability of home repairs or the prospects of doing anything more than driving your outright owned shitbox car to and from work while eating home cooked food for every meal, with no vacations.

>> No.55910520
File: 81 KB, 1232x498, usda loan info.png [View same] [iqdb] [saucenao] [google]
55910520

>>55909705
It's lower than that in rural America. They get subsidized rates. 200k home is under 1k/mo.