• thantik@lemmy.world
    link
    fedilink
    English
    arrow-up
    3
    ·
    edit-2
    9 months ago

    My buddy just ended up mortgaging an “Unaffordable house” and rented out the rooms.

    Stop renting. You’re just putting yourself in a hole you’ll never dig yourself out of.

      • thantik@lemmy.world
        link
        fedilink
        English
        arrow-up
        8
        ·
        edit-2
        9 months ago

        Hint: Stop living in places like that.

        I.E. Stop living in the red:

        image

        Having a $300k/yr job means nothing if Rent is 250k/yr…there are PLENTY of jobs out there. Most places are minimum $15 any more. And with a median home price in the 250k-400k in the green areas, you can make it work. First time home buyers programs exist which will cough up the down payment for you in some instances.

        • Chozo@kbin.social
          link
          fedilink
          arrow-up
          28
          ·
          9 months ago

          I think you may be overestimating the average person’s financial capacity to uproot their lives and relocate themselves to somewhere more affordable. People who are already living paycheck to paycheck tend to struggle to save up enough money to cover the costs of moving down the street, let alone across the country.

        • Ghostalmedia@lemmy.world
          link
          fedilink
          English
          arrow-up
          26
          ·
          9 months ago

          That chart is stupid. It’s comparing housing prices to the average income for the entire US. Income is higher in the red areas and lower in the green areas. It’s not the same in every county or state.

          If you compare local housing prices to local pay you get a different map. A lot of those colors flip.

        • Empricorn@feddit.nl
          link
          fedilink
          English
          arrow-up
          17
          ·
          9 months ago

          Another brilliant suggestion no one else thought of! Just leave my family, friends, significant other, home town, and employer to live cheaper in a Red State hellhole… It’s so easy!

        • EtherWhack@lemmy.world
          link
          fedilink
          arrow-up
          11
          ·
          9 months ago

          It’s a bit more to than just that.

          I’m in one of those dark red areas and I’ve never seen anything costing 20k a month unless its a huge swanky house on giant piece of land. One like this, in the rich part of Palo Alto. Most I’ve seen are around 5-10k for a 5-bed, even in Atherton. Rent for a single-bed apartment is between 2-5k depending on the lavishness.

          Pay range generally has followed housing cost within the region. Meaning an engineer may be able to make >200k in one of the higher cost areas, but then make 80k in one of the lower cost, all while doing the same work. The problem is more that house prices almost everywhere cost beyond what most people can afford. Moving to a completely different region also may work for some people that have more universal jobs or are WFH, but a lot of people in those expensive regions have specialized experience/education that are hard to find jobs for outside. So, an electronics engineer with a specialty in EVs and battery cell physics wouldn’t be of much use in Nebraska.

          • Bonehead@kbin.social
            link
            fedilink
            arrow-up
            3
            ·
            9 months ago

            Let’s do some hypothetical scenarios. If you’re making $80k a year, your take home pay is roughly $5k a month. Spending $2k a month on rent leaves you with $3k for everything else. If you make $200k+, your take home pay is closer to $10k a month or more. If your rent is $4k a month, that leaves you with $6k for everything else that pretty much costs the same as the area where you’re only making $80k. Even at $6k/month for rent, you still have more money. Automatically, it’s better to take the higher paying job with the higher rent.

        • Kyrgizion@lemmy.world
          link
          fedilink
          arrow-up
          2
          ·
          9 months ago

          First time home buyers programs exist which will cough up the down payment for you in some instances.

          We used to have incentives like this here in Flanders but they were axed completely over half a decade ago, with the promise that “it would make house prices fall”.

          Which of course never happened…

        • maness300@lemmy.world
          link
          fedilink
          arrow-up
          1
          ·
          9 months ago

          You’re correct, but these entitled children will downvote you and throw their mental gymnastics at you anyways.

          Getting older is really showing me how stupid this generation is. Oh well, at least it’s easier for me to compete.

          • Empricorn@feddit.nl
            link
            fedilink
            English
            arrow-up
            18
            ·
            9 months ago

            TIL wanting to afford living near family/friends means I’m entitled.

            Take your pills, Grandpa.

          • cabron_offsets@lemmy.world
            link
            fedilink
            arrow-up
            16
            ·
            9 months ago

            Fucking read the comments, are you dense? Why the fuck would I want to live in a place where my wife might be forced to carry a terminal pregnancy? Or somewhere lacking employment opportunities other than fucking Walmart? Jfc.

            • maness300@lemmy.world
              link
              fedilink
              arrow-up
              1
              ·
              9 months ago

              It’s not about wants, it’s about needs.

              If you can’t afford to live somewhere, you have to move somewhere else. Thinking otherwise is textbook entitlement.

              If these places aren’t good enough for you, then you need to make more money to live somewhere else or do your part to make them better.

              Thinking otherwise is textbook entitlement.

              • sapient [they/them]@infosec.pub
                link
                fedilink
                arrow-up
                1
                ·
                9 months ago

                What’s actually entitled is thinking that people should just shut up and accept shit choices to preserve your property value (and commodified housing in general <.<) instead of building more goddamned dense housing and infrastructure.

                “Suck it up” is one of the worst phrases invented. I’ve only ever seen it used to justify hierarchy, subjugation, abuses of power, and not changing things for the better. Its existence primarily serves the interests of those with power.

                • maness300@lemmy.world
                  link
                  fedilink
                  arrow-up
                  1
                  ·
                  9 months ago

                  No, what’s entitled is thinking you deserve more before others who have less without being able to afford it yourself.

                  That’s textbook entitlement, lol.

          • Flying Squid@lemmy.world
            link
            fedilink
            arrow-up
            10
            ·
            9 months ago

            “I could move to Bumfuck Montana where the rent is cheaper, or I could stay here and take care of my elderly mother with dementia. Yep. Montana it is because I’m not an entitled child.”

            • maness300@lemmy.world
              link
              fedilink
              arrow-up
              1
              ·
              9 months ago

              I don’t get it. If Bumfuck Montana isn’t good enough for you, then what about the people who are forced to live their because they can’t afford more?

              Why should you get more before them? You already have more! Lol.

    • Ghostalmedia@lemmy.world
      link
      fedilink
      English
      arrow-up
      21
      ·
      9 months ago

      Paying the mortgage usually isn’t the big problem people have. It’s getting hundreds of thousands for a down.

      • maness300@lemmy.world
        link
        fedilink
        arrow-up
        3
        ·
        9 months ago

        It’s getting hundreds of thousands for a down.

        Lol, what?

        My house was only $60k and it’s 1,200 sqft.

        The problem is that people want to live outside of their means. They think they’re entitled to things they can’t afford.

        • Ghostalmedia@lemmy.world
          link
          fedilink
          English
          arrow-up
          19
          ·
          9 months ago

          I live in a different part of the country, with a very different cost of living, and salaries that are adjusted for this region. I live here because this is where all the work is for what I do professionally.

        • BananaPeal@sh.itjust.works
          link
          fedilink
          English
          arrow-up
          16
          ·
          9 months ago

          That’s not the issue where I live. Houses easily go for $300k+ here and the only rentals I can find are $3000/mo, and/or winter months only. You may say to just move, but I grew up in this area, I have the best job I’ve ever had and my kids’ school is helping them immensely. Shouldn’t I be able to find a modest 3 bedroom that’s affordable? We’ll I can’t.

            • BananaPeal@sh.itjust.works
              link
              fedilink
              English
              arrow-up
              7
              ·
              9 months ago

              That’s the answer? Uproot my family, change the school that works well for my kids, and likely change jobs because land owners are greedy. Makes sense to me.

              • maness300@lemmy.world
                link
                fedilink
                arrow-up
                2
                ·
                9 months ago

                Yeah. You can no longer afford to live somewhere, so you have to move somewhere cheaper.

                Other people are willing and able to pay more than you, so they get access to places before you do.

                It’s called “supply and demand,” and unfortunately people like you have convinced themselves they are immune to it.

                  • maness300@lemmy.world
                    link
                    fedilink
                    arrow-up
                    1
                    ·
                    9 months ago

                    I agree, but it’s the quality of housing and food that people don’t realize.

                    If you can’t afford to live in desirable areas, then you have to move to undesirable areas.

                    If you can’t afford doordash every day, then you have to cook your own meals.

                    City people don’t want to accept these simple facts of life and get mad whenever an adult points it out to them.

        • Kyrgizion@lemmy.world
          link
          fedilink
          arrow-up
          10
          ·
          9 months ago

          Very happy for you my man, but not everyone has that possibility. My house was 200K when I bought it over a decade ago, it’s probably ~350K now. Putting it simply, I couldn’t possibly afford my own house today if I were a first time home buyer, and it’s a very basic house from 1958.

          And I’m definitely one of the lucky ones. Many others can’t possibly get on the property ladder at all, and just because I did doesn’t mean I can’t recognize how much harder it is for them.

          • maness300@lemmy.world
            link
            fedilink
            arrow-up
            2
            ·
            9 months ago

            You would have to move to a cheaper area because you could not afford the one you live in.

            It’s what happens when you can’t afford things; you don’t get them.

    • squiblet@kbin.social
      link
      fedilink
      arrow-up
      18
      ·
      9 months ago

      Oh! That’s was easy. I just found my $200,000 down payment and credit in a jacket I forgot about.