Burnem Wizfyre
Log Wizard
- 11,856
- 19,779
Shit makes no sense to me, who the fuck is buying these houses. I’m not rich, I make low 6 figures, like pretty much barely breaking 6 figures. My house is nothing special, 3 bedroom 2 bath, cookie cutter house but in a really nice town next to the country club outside the big city of Corpus Christi. I paid $205k, they wanted $235k, 4.25% interest rate with an 820 credit score, put down $10k,mortgage is $1670
Fast forward a year, houses are $300k for the same square footage and to be quite fucking honest if they took pics of the houses empty outside of minor differences looks like my house. 7.25% interest and that’s for people with excellent credit like me, $100k more price and the mortgage would be around $2800-$3k. How the fuck does that happen, who can afford this, who is buying these houses because they are getting scooped up.
Confused as fuck, as a person who hasn’t rented ever, previous house was bought and paid for and a really long story so I won’t get into it, I decided to look up rent prices. Dear fucking lord, one bedroom apartments are $12-$1300, 2 bedroom 2 bath, $25-$2800 and 3 bedroom 2 bath are $4200-$4800. These are the cheap places, who the fuck is renting these places and how can they afford them. Me and my wife sat down and did the math, we can’t figure out how people are living and affording things. My wife doesn’t work but it’s ok because my take home pay is generally $2-$3k a week but we can’t make the math work for other people.
Assuming a man and wife both work, man is paid $20 and wife $15 an hour. They both work 40 hours a week, they earn $5600 and Uncle Sam takes his cut and they have $4700. Let’s say they have 2 kids and they share a room and they live in a shitty 2 bedroom. They now have $2200 left over, let’s be nice and say their car payment is only $300 each and now with insurance premiums skyrocketing $250 for insurance they are left with $1350. Water, electric, internet another $350 gone and $1000 remaining, let’s pretend these vehicles are decent mpg vehicles and only run $50 a week in gas, $400 a month gone, $600 remaining to eat the entire month on with 2 adults and 2 kids. This is bare fucking minimum, I’ve underestimated prices, assumed no debt outside of rent and transportation and I can’t make sense of it.
Someone please make it make sense, how the fuck are people remaining afloat today, how are people buying houses.
Fast forward a year, houses are $300k for the same square footage and to be quite fucking honest if they took pics of the houses empty outside of minor differences looks like my house. 7.25% interest and that’s for people with excellent credit like me, $100k more price and the mortgage would be around $2800-$3k. How the fuck does that happen, who can afford this, who is buying these houses because they are getting scooped up.
Confused as fuck, as a person who hasn’t rented ever, previous house was bought and paid for and a really long story so I won’t get into it, I decided to look up rent prices. Dear fucking lord, one bedroom apartments are $12-$1300, 2 bedroom 2 bath, $25-$2800 and 3 bedroom 2 bath are $4200-$4800. These are the cheap places, who the fuck is renting these places and how can they afford them. Me and my wife sat down and did the math, we can’t figure out how people are living and affording things. My wife doesn’t work but it’s ok because my take home pay is generally $2-$3k a week but we can’t make the math work for other people.
Assuming a man and wife both work, man is paid $20 and wife $15 an hour. They both work 40 hours a week, they earn $5600 and Uncle Sam takes his cut and they have $4700. Let’s say they have 2 kids and they share a room and they live in a shitty 2 bedroom. They now have $2200 left over, let’s be nice and say their car payment is only $300 each and now with insurance premiums skyrocketing $250 for insurance they are left with $1350. Water, electric, internet another $350 gone and $1000 remaining, let’s pretend these vehicles are decent mpg vehicles and only run $50 a week in gas, $400 a month gone, $600 remaining to eat the entire month on with 2 adults and 2 kids. This is bare fucking minimum, I’ve underestimated prices, assumed no debt outside of rent and transportation and I can’t make sense of it.
Someone please make it make sense, how the fuck are people remaining afloat today, how are people buying houses.
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