4 ms·
You mean a $20k down payment, right? Most of us aren't buying million dollar homes...
by stank345 11y ago
You mean a $20k down payment, right? Most of us aren't buying million dollar homes...
- tootie 11y agoNot just the downpayment. If your monthlies are lower you're earning interest on those savings as well.
- guelo 11y agoMost of us aren't buying $100k homes either. National median home price is $219k. In the Sillicon Valley area it's $900k.
- stank345 11y agoYeah, I just figured it was a typo. It begs the question though: what percentage of us are putting 20% down?
- calbear81 11y ago$20k would mean a $100k house which is hard to buy in most mid-size and larger cities unless you're willing to live a bit more remotely.
- scarmig 11y ago200k is downright ordinary in the Bay Area, unfortunately. But, yeah, some places have lower typical down payments, but rents tend to also decline commensurately with home prices. Roughly speaking.