Home buying thread

Big Phoenix

Big Phoenix

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Lanx said:
imagine being 40 and asking moms for $$$, or worse yet, put them on the hook for your house that youre bound to mess up and get foreclosed cosigning

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i mean, i could see it, if youre mid 20s 1st kid...

but 40s?

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What do you expect when homes are 400-500k @ 7% interest in very middle of the road neighborhoods? I couldnt imagine having to have 100-120k/yr income AND throw in a 20% down payment to afford a house in my neighborhood.

Just looked at Zillow. Only 2 homes just barely under 400k in my zipcode. Last month house across from me sold for $480k. Market is as nuts as ever.
 
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Unidin

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Khane said:
They are funding their own care. They paid into it their entire working lives.
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That's a bit oversimplified though. If someone is going into a situation where they're needing long term care, then it's likely they're going to have significantly more spent on them in retirement than they ever put into the system. As the number of people who fall into this bucket rises, that's where the solvency of Medicare without the government shuffling more money into it's bucket comes into play.
 
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Tmac

Tmac

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Unidin said:
That's a bit oversimplified though. If someone is going into a situation where they're needing long term care, then it's likely they're going to have significantly more spent on them in retirement than they ever put into the system. As the number of people who fall into this bucket rises, that's where the solvency of Medicare without the government shuffling more money into its bucket comes into play.
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Both of my grandmothers have at home “helpers” and it costs them about $5k-$6k per month.
 
Khane

Khane

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Unidin said:
That's a bit oversimplified though. If someone is going into a situation where they're needing long term care, then it's likely they're going to have significantly more spent on them in retirement than they ever put into the system. As the number of people who fall into this bucket rises, that's where the solvency of Medicare without the government shuffling more money into it's bucket comes into play.
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Some people will live a long time in assisted living scenarios, others will never even need assisted living at all. Some people will have paid huge sums into it because they are high earners their whole career, others will have paid very little into it at all.

As a social fund it's been mismanaged and people are also living longer than expected but that's a problem with the system, not the idea.

So, for me, if I ever need it I will tap into it fully without a second thought or any care at all. I paid into it, I contributed a large amount to it in fact and that's the main point.
 
ToeMissile

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Tmac said:
Both of my grandmothers have at home “helpers” and it costs them about $5k-$6k per month.
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My in laws are coming up on this. Fortunately the financial side isn’t an issue, mostly them coming to terms with needing the assistance and getting over the $. They’re 78/82 and just started having someone come over to clean the house for them within the last month or so.
 
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