Hey, I have been to both O’Hare and Midland airport.
I am an expert.
Did you mean Midway?
Not an expert but I can read a real estate listing.
I would, but don’t have to. You’re the one whining about homes being unaffordable, I’m just showing there are homes available.
I’ll never be that good. But my I’m learning that by googling “deadliest neighborhood in Chicago”, I can find some pretty quality neighborhoods, and I can find a correspondingly low price home. And you know that Realtor.com doesn’t lie about these things. And I sit comfortably in the den of my modest home in an upscale suburb of Kansas City, it’s easy for me to tell someone that there is house for somebody who wants it. Even if I’ve never been to Chicago. The difference between me and bears is that I am willing to put at least little semblance of safety in the location of my home.
Yes
Would you buy a house simply on the listing without physically seeing it?
Midland was funnier, it showed you don’t know about Chicago.
I never claimed to.
No. If I could only afford $XX,XXX for a home that’s the homes I would be looking at instead of whining that McMansions cost more than I could afford. Everyone I know started with a less expensive smaller home and moved up to nicer homes and neighborhoods. KC seems to think a 22 year old should be able to buy the same house he lives in today.
No shit!!!
That isn’t what is being discussed.
What is being discussed is your inability to realize that you don’t know what you are talking about.
Umm.
Don’t really think KC said that.
Yep and those homes do exist and are for sale. There’s an old saying, beggars can’t be choosers.
BTW where are the people that can’t afford to buy a home living now?
I guess if someone won’t buy a home they can afford and move up to their dream home later they should just keep renting for the rest of their life. I know you don’t like math but a $1,500 a month 2 bed room apartment over 30 years is over half a million dollars.
It’s exactly what is being discussed, the price of homes, you just don’t like the area they’re in.
His position is people can’t afford to buy a home, my position is bullshit, there are homes available. You and KC are hung up on inexpensive homes not being something you’d live it. If someone can’t afford to buy their dream home then they can rent for the rest of their life, I don’t really care.
The point you are missing (either intentionally or just out of ignorance) is that 20 years ago I could buy a “starter home” at a reasonable price in a decent area. That isn’t as easy anymore.
A house I purchased in 2001 (starter home) would cost 217% more today than it did then.
The cumulative inflation from then to now is 65%
A person or couple earning $60,000 a year can afford a $250,000 home with decent credit and a $30k down payment. It’s not that difficult to find a home for that price in a halfway decent neighborhood. A young couple working full time at Amazon at $18 an hour each would make $75,000 a year. It’s not that difficult.
That is 36% of monthly gross income for a mortgage payment.
Rule of thumb is no more that 28% (which is a high estimate IMO).
The mortgage calculator I used had total debt is 36%, the numbers I entered included no other debt.
Using your PDF guidelines (3 x gross income) the person in my example earning $60,000 a year with $30k down would be able to afford a $210,000 home. In most areas you should be able to find an acceptable home, townhouse or condo within 10 mile of where you want to be.