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The increase in salary would have to be much higher to justify paying double the mortgage, not to mention the additional stress of actually finding a house in a
by vsskanth 3y ago
The increase in salary would have to be much higher to justify paying double the mortgage, not to mention the additional stress of actually finding a house in a supply constrained market.
Also, a lot of spouses also work these days, so now you have to find two jobs.
Best bet is to find a place with many jobs available for your industry and settle down, so you don’t have to move for your job.
- bluGill 3y agoThere are plenty of midwest cities where you can cut your mortgage. Granted prices are moving up fast there as well, but things started a lot lower and since many of those cities allow you to build (well they are building suburbs anyway) you can get a newish house.
- apercu 3y agoThe issue is inventory. Fewer people are selling, because they're locked in to sub-3% mortgages and a new mortgage might be 6.5-7%. As an aside, a friend in real estate thinks the profession will lose a lot of agents this year due to lack of transactions.
- bluGill 3y agoThere is inventory of new built houses to be had. Some nice houses can be had.
- mxuribe 3y agoI missed the boat around the Raleigh, NC area...i recently returned from a trip in the outskirts area of this metro looking for a place to land my family...but housing costs are just crazy high relative to what they used to be prior to the pandemic. I guess other technologists (and i suppose other white collar/knowledge workers who can more likely work remotely) had the same idea that i had...but well before i did. Oh well, on to other areas of the country. :-)