When I bought a couple decades ago, I followed a rule of thumb I had heard of

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Apr 16, 2023
1:15:21am

BluebloodOR All-American

no more than 3x. And again when we moved out of the starter.

Banks were willing to loan way more than that of course.

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BluebloodOR

Bio page: BluebloodOR
Joined: Oct 3, 2011
Last login: Sep 20, 2024
Total posts: 3,253 (2 FO)

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Messages

Author

Time

POLL: How many times your annual salary was the purchase price of your latest home?

CougaReb

4/15/23 8:52pm

Now or when bought?

ballen

4/15/23 8:54pm

Yeah, this is really important.

Courtimedes

4/15/23 9:22pm

That is the question!

gww687

4/15/23 9:26pm

The question says "at the time you bought" the house, with your salary then.

CougaReb

4/16/23 12:23am

We brought more than 20% for down payment. How would we factor that?

JohnnyC

4/15/23 9:09pm

Doesn't seem relevant to the question

Plato

4/15/23 9:14pm

My salary or our combined salaries?

ugo1st

4/15/23 9:41pm

Either you all have some crazy good W2 jobs or

demon_llama

4/15/23 11:26pm

When I bought a couple decades ago, I followed a rule of thumb I had heard of

BluebloodOR

4/16/23 1:15am

First home X5. Second home X5. Current home 3X

Acorn

4/16/23 6:55am

Interestingly, it appears half or more are paying >3x their salaries for...

CougaReb

4/16/23 11:53am

yes. especially in Utah.

demon_llama

4/16/23 7:27pm

before or after taxes? about 5 months after tax but my house was cheap and

qwerew

4/17/23 12:00am

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