>get work-from-home job >sell overpriced property in the western US >pick a cheap state to move to >michigan looks good >find a nice house on the market >call the listing agent 3 hours after it was put on market >offer 5% above asking with 20% down >"sorry dude, we already got all cash for 10% above asking"
You idiot Zoomers calling for a crash don't get it. People are sitting on a shit ton of money from 10 years of stock market/real estate/crypto gains. America is still a fucking bargain compared to Canada, Australia, New Zealand. Shit is absolutely fucked and it's not going to get better as the real estate Ponzi scheme won't fail.
This is a laughably inaccurate map. I just ran the numbers for my state, CT, and you need closer to a 100K salary to afford the average priced home. I imagine other states are just as inaccurate. And that's using standard "what can I afford" calculators that already have you taking out too high of a mortgage, don't factor in PMI because you're not putting down 20% (as if anyone can even afford 10%), and assumes you have no other debt whatsoever. Good luck out there zoomers.
Colton Cooper
Alaska is twice that
Isaiah Barnes
Wrong. $46k to afford the average home with 20% down. And that's with 4.5% rates.
Median household income in Connecticut is 72k. Housing is underpriced.
You guys will look back on 2021 and say "holy shit why didn't I buy then" when rates were 2.5%, the same way others look back on 2011.
Seriously people are so silly like here in Montana >wahh wahhh I spent all my money on trucks, dirt bikes ATVs and beer for 20 years instead of buying housing when it was cheap Whole US housing market explodes >DAMN TRANSPLANTS ARE WHY I'LL NEVER OWN A HOUSE seethe chuds bought my spot in 2018 and its 2.5x'd in value
Brayden Jones
no, you're doing it wrong. first of all, the map is giving numbers based on 10% down, which I did. and you failed to factor in property taxes and insurance, which are high in CT.
Jonathan Robinson
and by the way, I'm being generous. the only way you're getting an "average" priced house in CT is if you buy in a shithole city. if you're argument is to find somewhere else to live, then yeah, I agree.
Noah Bailey
My mortgage officer was shocked at my application
>"Wait, you mean you don't have any credit card debt, or student loan debt, or auto loan debt?" >"Wow, an easy one for once!"
I have zero sympathy for Millennials and Zoomers who are broke. The markets the past decade have gone nowhere but up. But instead of investing, they're wasting their money on food, going out, subscription services, etc.
is Ohio a good state to move to if I'm from Texas?
Wyatt Richardson
Ohio doesn't have that reputation yet it's almost as cheap as WV.
Aiden Nguyen
>I just ran the numbers for my state, CT, and you need closer to a 100K salary to afford the average priced home
CT isn't a good example. Do you mean western CT? If so, yes you are correct. Eastern CT (New London, Groton, Norwich, Griswold, Salem, colchester, etc) you can afford a decent 1700sq/ft with half an acre for under 200k. I will concede though, that with this recent/last 8~| month spike in prices, its harder to find prices like that. My house is close to 100k up in valuation since covid started. Useless value, as I'm not moving anytime in the next 10 to 15 years.
Anyways, it is and always will be entirely based on town/city, not as a whole state. Laughable to include a massive state like New York as one single price. People in bumfuck Olean aren't making anywhere close to 50k, much less 91k.
Jeremiah Anderson
Live outside the cities in townships and your property tax is cut in half.
You can get a USDA loan for 2.5% interest and no money down and pay 0.35% in PMI.
Fuck off boom nigger. You destroyed our ability to do any of those things.
Parker Butler
Places further north will get better though. Such a shame how all that prime real estate in the Canadian Arctic is controlled by people who want to flood it with 100 million Pakistanis.
Stop making excuses loser. I'm 29 and whiter than you.
Thomas Sanders
I saw a fixer-upper in my county for $95,000 two years ago. I came close to buying it but I found out the neighbor with who I'd share a driveway had a really long criminal record. Also since the house was built on the side of a hill, I was worried it might have hidden problems with land shifting. Someone else bought it and is flipping it for $380,000. The cleaned up the overgrown vegetation, removed the stairs from the parking pad (no garage) to the house, which being on the side of a hill was a lot, and re-did and painted the house inside and out. The stairs and the kitchen are the only things that probably cost a lot but they're probably in about $50k on that. If they're able to pull-off a $230k profit, it's surely a sign of insanity. The criminal next door owns his house (nearly identical to the one that's being flipped) so he's not going anywhere. Someone is going to get fucked in all of this.
Xavier Perez
You're also a fucking retard if you bought after mid-2020. You'll have to wait for the "correction" to not be underwater now.
