It’s possible if you own a modest home already with a low interest rate.

Jun 20, 2024
8:20:42am

JOPE Resident Golf Fanatic

But you will be on a tight budget.

This message has been modified

Originally posted on Jun 20, 2024 at 8:20:42am

Message parent changed from https://www.cougarboard.com/board/message.html?id=33236480 to https://www.cougarboard.com/board/message.html?id=33236461 by JOPE on Jun 20, 2024 at 8:20:59am

Message modified by JOPE on Jun 20, 2024 at 8:21:19am

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JOPE

Bio page: JOPE
Joined: Oct 4, 2001
Last login: Jun 26, 2024
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Messages

Author

Time

Income needed for family of 4. Do these numbers seem right for your state?

Tare

Jun 20, 7:29am

Need? Probably right. What people want? No.

Baron

Jun 20, 7:34am

We are a family of 5 in San Diego and have lived on less than $138k.

The Count

Jun 20, 7:37am

Moving to San Diego county soon (north end). Looking at homes for $900 that were $500 6 years ago. 😞

WP17

Jun 20, 7:40am

$6,000 house payment. That would put a crimp in my style for sure.

Acorn

Jun 20, 7:46am

Yeah, not ideal but rates will fall in time and prices on good homes 10 min from the beach will rise.

WP17

Jun 20, 7:52am

You can buy a house 10 minutes from the beach for $900,000? I thought it would

Acorn

Jun 20, 7:59am

North County- San Diego proper no way. It would be several million for sure

WP17

Jun 20, 8:01am

3 bedrooms in our neighborhood about 15 minutes from the beach are $900.

The Count

Jun 20, 8:10am

As crazy as it sounds home prices and rates aren't California's primary problem

rad dawg

Jun 20, 8:03am

A guy I know was looking at buying a home and the quote was $70,000 a year for

Acorn

Jun 20, 8:27am

California will never wither into a ghost town

rad dawg

Jun 20, 8:42am

Also true for sure. We looked at homes more info and the insurance was more than the lower mortgage payment.

WP17

Jun 20, 8:34am

What makes you certain rates will fall? I would really love for that to happen

federer

Jun 20, 1:50pm

Because markets won't sustain these rates long term. Optimism for rate cuts is holding things together right now.

WP17

Jun 20, 2:16pm

I really hope that happens. Do you think that will cause housing prices to shoot

federer

Jun 20, 2:31pm

It's tough to say. Right now inventory is so low that prices keep going higher. Lower rates means expanded supply

WP17

Jun 20, 2:35pm

I'll be really surprised if mortgage rates go below 5% any time soon

Tare

Jun 20, 2:44pm

We are in north county (Oceanside). Our house was $540 when we bought it in 2018

The Count

Jun 20, 7:59am

All depends on when someone bought their house

wannnacruise

Jun 20, 7:43am

I wonder what percentage you'd add on to those figures if you had a family of 6.

Undefeated

Jun 20, 7:57am

My daughter's family of three gets by on a LOT less than that in Dallas, Texas.

Acorn

Jun 20, 8:02am

Dual-income is definitely becoming a necessity for many, especially early on

Odysseus

Jun 20, 12:36pm

Those are good numbers assuming the housing metric doesn't assume home ownership

rad dawg

Jun 20, 8:08am

A ton of factors to consider

TLCougar

Jun 20, 8:08am

It’s possible if you own a modest home already with a low interest rate.

JOPE

Jun 20, 8:20am

If only they’d stop buying expensive iPhones and save a little. My generation got by just fine that way.

spinner

Jun 20, 9:07am

lol, an iPhone isn’t why people are having a hard time

WP17

Jun 20, 9:44am

Agreed, they also need to stop purchasing big TVs and fancy apple cider. In my day we got by just fine without that.

spinner

Jun 20, 10:05am

Avocado toast.

durandal

Jun 20, 10:09am

TVs are more affordable nowadays than TVs were back in the day.

Undefeated

Jun 20, 10:26am

I think cost of healthcare, home prices, and educational costs are probably more important than $4 apple cider

WP17

Jun 20, 10:54am

Unless they’re living in basically monastic poverty, they need to stop complaining

spinner

Jun 20, 11:00am

Transportation is the number one cult reason why people lose jobs

CarolinaCoug

Jun 20, 1:28pm

I agree with your sentiment, but t v's not the issue they cost less now then

CarolinaCoug

Jun 20, 1:25pm

Automobiles, that is where people are spending their money and housing

CarolinaCoug

Jun 20, 1:26pm

Your generation didn't need a smartphone to have a job. Good luck doing most

Undefeated

Jun 20, 10:23am

Not buying it. Young couples with any possessions I didn’t have at their age have no right to complain

spinner

Jun 20, 10:46am

Not buying it. Today's young people have it worse than anyone in history.

Acorn

Jun 20, 1:25pm

RE: Not buying it. Today's young people have it worse than anyone in history.

spinner

Jun 20, 1:35pm

A 15 inch TV cost more. When you were young, then a 50 inch today. Landlines

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