- Joined
- Feb 1, 2018
- Messages
- 17,598
I had only a HS diploma at the time. Worked my *** off and saved every nickel I could.nowadays w house prices, its nearly impossible for any 22 year old who attended a non state school to close on anything. you're already in the hole before you even begin your professional life. not to mention, undergrad degrees are generally worthless now.
Just a few weeks ago, a young couple - early 30’s - bought the house next door. Listed for $325K but after a bidding war, I’m guessing they paid $340K.
They said they put some money down so I’m guessing they financed $300K. $300K @ 5% is about $1500 a month P & I. Add another $300 for taxes and insurance for a monthly mortgage payment of $1800.
Both have bachelor’s degrees - wife’s in marketing and he’s in sales. They had the entire interior painted before they moved in and bought all new furniture. Both drive fairly new cars.
All that to say the real estate market right now is crazy but people are still buying. I can’t imagine an $1800 a month mortgage payment.