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If you're not a home owner now, how do you plan to own??

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Old 09-13-2006, 02:36 AM
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sqkev
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Default If you're not a home owner now, how do you plan to own??

Especially if you live in california??

I think it's almost impossible to buy a decent house with a median income here in Cali. Bubble bursted (IMHO) and houses are still 650K in my area.
a 600k loan would be about $3.6k in mortgage not including anything else.

And, believe it or not, the middle class is shrinking in size.
Old 09-13-2006, 05:52 AM
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Big AL
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Another reason not to live in California. A $650K house in Cali is only about $150K here yet personal incomes are nearly the same.
Old 09-13-2006, 05:57 AM
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CRAIGHIMSELF
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I dont. Am Im cool with it. A little thing called "inheritance" is coming my way.
Old 09-13-2006, 06:45 AM
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Draconius
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Originally Posted by sqkev
Especially if you live in california??

I think it's almost impossible to buy a decent house with a median income here in Cali. Bubble bursted (IMHO) and houses are still 650K in my area.
a 600k loan would be about $3.6k in mortgage not including anything else.

And, believe it or not, the middle class is shrinking in size.
$3600 for $600k??? Which loan company are you looking at?!?!?!?

I can get $600k for like $1800/month
Old 09-13-2006, 06:57 AM
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Originally Posted by Draconius
$3600 for $600k??? Which loan company are you looking at?!?!?!?

I can get $600k for like $1800/month
yeah if you put down 300,000 cash and get an interest rate of 6.5%, yeah your looking at 1800 a month
Old 09-13-2006, 07:01 AM
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spanky
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Originally Posted by Draconius
$3600 for $600k??? Which loan company are you looking at?!?!?!?

I can get $600k for like $1800/month
with a 50% down payment, maybe.
Old 09-13-2006, 07:02 AM
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Big AL
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Originally Posted by Draconius
$3600 for $600k??? Which loan company are you looking at?!?!?!?

I can get $600k for like $1800/month
Only if you get a interest only 1 year ARM loan. Not a good idea with today's housing market. $3,600 for a fixed 30 year loan is about right.
Old 09-13-2006, 07:03 AM
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Misa
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stop bitching about Cali house prices. if you dont like it, then move. :squint:
Old 09-13-2006, 07:05 AM
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spanky
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* > Cali
Old 09-13-2006, 07:08 AM
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Originally Posted by Draconius
$3600 for $600k??? Which loan company are you looking at?!?!?!?

I can get $600k for like $1800/month
then why don't you do that and then in 3-4 years get kicked out of your house
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