You have to earn $115,000 a year to afford a typical house now in the US
You have to earn $115,000 a year to afford a typical house now in the US
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Assuming you can even win the bidding war to buy a house right now. Nothing worse than seeing a house you failed to buy have a For Lease sign on it the next week.
In my area there always seems to be a cash buyer so even if you have a strong offer and are prequalified the seller isn’t going to pick you. They need to heavily tax non-primary residences and housing owned by companies. These robobuyers have destroyed any chance people have of buying a first home.
Nothing worse than seeing a house you failed to buy have a For Lease sign on it the next week.
And it's not only companies. Lots of homeowners with low-interest mortgages from 2020-21 rent out their home instead of selling when they move, which in turn depresses inventory and puts upward pressure on prices.
That’s crazy, I’m actually getting ready to sell my house right now and it’s going to be a struggle to not lose money… and I live in the fastest growing county in Utah.
Nothing worse than seeing a house you failed to buy have a For Lease sign on it the next week.
Not only that. Lots of people with low-interest mortgages from 2020-21 rent out their home instead of selling when they move, which in turn depresses inventory and puts upward pressure on prices.