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Why do you think you can qualify someone’s purchasing ability based on their looks? Aspirants tend to show wealth more than people who have it.

crate_barre 5y ago
This argument is a losing battle, so I’ll leave it alone. I just know it wasn’t a Doctor walking in looking for a medical office. Don’t ask me how I know, sometimes you just know. There’s a vape store around my way that sells weed, and other drugs (not legalized here yet). Don’t ask me how I know, I just know. For what it’s worth, just on pure number crunching, I don’t even know how a developer making modest six figures can even THINK to bid on a 1.8m dollar house, even WITH double income from his wife. So, what the fuck is going on?
- tdfx 5y ago
  > So, what the fuck is going on? It's a great question. I know a couple with a pre-tax household income of $180k that just paid $600,000 for a house with $50k down. Napkin math leads me to believe they're spending approximately 50% of their take home income just on mortgage+tax+insurance payments, assuming nothing in their house needs maintenance or repair. This house was sold for $350k in 2016. Is everyone just financially ruining themselves to check the "house" box on a middle class life checklist?
  - crate_barre 5y ago
    I’m just glad I’m not the only one baffled here. It takes 4 missed mortgage payments to start going into a default and we’re talking a 30-year time line for things to go sideways. Yellow cab medallion drivers literally committed suicide after purchasing their medallion for a million after Uber/Lyft showed up. So, yeah, I know I keep asking ‘how’, but really how? How is everyone’s head above water, how are they not being eaten alive? I suppose infinite house price increase, eh? If there’s no risk to this, then I must be a fool for not buying the MAX amount my loan affords me. I always thought ‘hey I’ll get a loan, but no way on hell am I going to bid the upper limit’, but apparently, that’s what’s going on. Just a little bit of dark humor, but those condo owners in Ukraine must be pissed as shit.
  - after_care 5y ago
    What's the alternative to buying a 600k house? I'd argue you'll end up paying more for less space over 30 years if you rent.

crate_barre 5y ago

This argument is a losing battle, so I’ll leave it alone. I just know it wasn’t a Doctor walking in looking for a medical office. Don’t ask me how I know, sometimes you just know. There’s a vape store around my way that sells weed, and other drugs (not legalized here yet). Don’t ask me how I know, I just know. For what it’s worth, just on pure number crunching, I don’t even know how a developer making modest six figures can even THINK to bid on a 1.8m dollar house, even WITH double income from his wife. So, what the fuck is going on?

tdfx 5y ago
> So, what the fuck is going on? It's a great question. I know a couple with a pre-tax household income of $180k that just paid $600,000 for a house with $50k down. Napkin math leads me to believe they're spending approximately 50% of their take home income just on mortgage+tax+insurance payments, assuming nothing in their house needs maintenance or repair. This house was sold for $350k in 2016. Is everyone just financially ruining themselves to check the "house" box on a middle class life checklist?
- crate_barre 5y ago
  I’m just glad I’m not the only one baffled here. It takes 4 missed mortgage payments to start going into a default and we’re talking a 30-year time line for things to go sideways. Yellow cab medallion drivers literally committed suicide after purchasing their medallion for a million after Uber/Lyft showed up. So, yeah, I know I keep asking ‘how’, but really how? How is everyone’s head above water, how are they not being eaten alive? I suppose infinite house price increase, eh? If there’s no risk to this, then I must be a fool for not buying the MAX amount my loan affords me. I always thought ‘hey I’ll get a loan, but no way on hell am I going to bid the upper limit’, but apparently, that’s what’s going on. Just a little bit of dark humor, but those condo owners in Ukraine must be pissed as shit.
- after_care 5y ago
  What's the alternative to buying a 600k house? I'd argue you'll end up paying more for less space over 30 years if you rent.