They could buy a $60k home in fly-over country. California dreamin'
>They could buy a $60k home in fly-over country. California dreamin'<
That's for sure. A 200,000+ home is not a starter, for young people without a downpayment. I know a lot of folks who've moved from California, and New York for that matter, in order to own a home.
I just looked and found a 3 bedroom, 2 bath house for 59,950.00 in the city near where I live. It's not the greatest neighborhood, but it's a lot safer than some place in East LA.
Move to Ohio. Or Texas, or Iowa. Even the Carolinas. Make 70% of the income, but pay 30% as much for a home.
Stainless! Howdy! Back then they were being told that they had to buy a house then, for real estate was skyrocketing astronomically, by the mainstream mess and the breakroom experts.
"Couple works three jobs, still can't pay mortgage."
More than the housenote draining their finances. Start writing checks to real men of God off the top, and quit smoking and drinking colas to save MEGA-bucks.
"They could buy a $60k home in fly-over country. California dreamin'"
ROTFLM**O! Just got back from feeding a kitten and her two little kks at a house just like that, which might have been sold yesterday. It's fly-over country as choppers are flying overhead looking for a two-year-old boy aways south of here.
"They could buy a $60k home in fly-over country. California dreamin'"
Isn't it amazing? Sure, wages are probably higher, on average, in the sky high real estate areas, but I doubt that they are proportionally higher. I've seen several houses in this area, in the past year, that were priced under twenty thousand, needed some tlc but they were liveable. That is what I would call a "starter house", but in another place I'm familiar with, a 400K house is called a "starter house". Crazy!