this post was submitted on 23 Oct 2024
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Housing Bubble 2: Return of the Ugly
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What is this doing to the housing market?
I am 40 and single. I make 90k a year, I have 130k in total proceeds from the sale of my previous house I owned for 17 years which will go towards the down payment and initial repairs/upgrades with hopefully 10k to savings, and I have very good credit.
I cannot find a house I can afford. If it's less than 350k, it's either a complete disaster on the inside requiring 50k or more to make decent, it's under 1500 sq feet and very claustrophobic inside, it's a cheaply built house in a cookie cutter neighborhood that's already showing it's quality, or it has less than 2 full baths and a 1 car garage. Or the taxes in the area are over 7k a year.
And a LOT of the houses have the same gray vinyl flooring that's as ugly as it is cheap.
Your comment shows American relationship with space of their homes. I live in <1500 sq feet home with my girlfriend and I wouldn't call it claustrophobic.
How often do you host dinner parties? How often do more than 4 guests attend? Do you want to have family over for the holidays? Do you ever plan to have kids? These are pretty common reasons to need at least 2 baths and 3 bdrms.