Lets use WA as an example. Average house costs 588k interest rate is about 7% now. So you’ll be paying $4300 per month. So man that’s rough but surely there are some cheaper that average units out there! If you want to be anywhere near where the majority of the jobs are even a lot drive away you are going to have a hard time getting below 450k or 3300 per month.
Well maybe you can rent cheaper right? 2BR 1.5 bath where again most of the jobs are can easily run you $2000-2500 which seems like a very nice savings however whereas your fixed rate mortgage is you know fixed your rent will probably exceed the payment on your mortgage within 10-12 years and since you have no equity you have no cushion to fall back on if you ever experience a downturn you could find yourself a bum on the street. Hell if you aren’t able to save anything you will definitely be heading for bum status when you get old enough that you can’t work. Holding on to being able to own something is an investment in not descending into desperate poverty later.
I think its weird how people don’t believe people can actually be struggling in America without also somehow being the source of their own problems. It’s like people like you have broken brains.
Hell if you aren’t able to save anything you will definitely be heading for bum status when you get old enough that you can’t work. Holding on to being able to own something is an investment in not descending into desperate poverty later.
I picked this out because it illustrates how utterly fucked up our system is, because we need housing to be:
Expensive, because it’s the default retirement investment vehicle for the working classes.
Cheap, so that young people just starting out can buy it.
I think its weird how people don’t believe people can actually be struggling in America without also somehow being the source of their own problems. It’s like people like you have broken brains.
Decades of “pull yourself up by your bootstraps” Republican propaganda will do that. So many Americans have been convinced that if you aren’t wealthy, you only have yourself to blame. And if you’re poor, you are inherently flawed as a human.
Lets use WA as an example. Average house costs 588k interest rate is about 7% now. So you’ll be paying $4300 per month. So man that’s rough but surely there are some cheaper that average units out there! If you want to be anywhere near where the majority of the jobs are even a lot drive away you are going to have a hard time getting below 450k or 3300 per month.
Well maybe you can rent cheaper right? 2BR 1.5 bath where again most of the jobs are can easily run you $2000-2500 which seems like a very nice savings however whereas your fixed rate mortgage is you know fixed your rent will probably exceed the payment on your mortgage within 10-12 years and since you have no equity you have no cushion to fall back on if you ever experience a downturn you could find yourself a bum on the street. Hell if you aren’t able to save anything you will definitely be heading for bum status when you get old enough that you can’t work. Holding on to being able to own something is an investment in not descending into desperate poverty later.
I think its weird how people don’t believe people can actually be struggling in America without also somehow being the source of their own problems. It’s like people like you have broken brains.
I picked this out because it illustrates how utterly fucked up our system is, because we need housing to be:
Expensive, because it’s the default retirement investment vehicle for the working classes.
Cheap, so that young people just starting out can buy it.
See a problem?
Decades of “pull yourself up by your bootstraps” Republican propaganda will do that. So many Americans have been convinced that if you aren’t wealthy, you only have yourself to blame. And if you’re poor, you are inherently flawed as a human.