The median income required to buy a "house" where I live is rapidly approaching $150,000. Unfortunately, I don't make 6 figures yet. At best, I'll have to buy a condo or a townhome.
A condo is still essentially apartment living, but with a large financial investment. Fuck that. Move to somewhere that actual houses with land are cheap. I grew up Around tacoma / seattle, shit was crazy expensive. Got my shit together and moved away, bought a house on some acreage in the woods where i can shoot guns, do whatever the fuck i want, no niggers around, all white people. Have a lifetime supply of firewood and all sorts of wild game to eat right on my own land, and my mortgage, property taxes, and insurance together is half what id pay to rent a shithole ghetto studio apartment in the puget sound. Way better life, and way cheaper to live. If the place you live is unaffordable, move.
Condos can be good if you plan to just rent it out if you leave
My wife and I make about 145k a year together. I make double what she makes. Our house was 270k but was in a state of neglect. A move in ready house 200 sqft smaller than ours sold for 367k. You could save yourself a ton of money if you have some basic repair skills.
I appreciate you looking out. Trust me, if I was married, this wouldn't be a problem. I have certainly considered a fixer-upper, but at the same time, even those are being bought up quickly. Honestly, I was hoping covid would crash the housing market. But that didn't happen and I didn't realize these super rich fuck companies like Blackrock were going to buy everything up regardless.
That could still happen with the price increases on everything due to inflation. Several interest rate increases coming this year too. That will severely limit the buying ability for most people and it will kill demand. You're right about Blackrock. They will continue to buy up houses when the crash happens. All part of their plan.
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