A Boring Dystopia

9535 readers

1664 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 1 year ago

MODERATORS

givesomefucks

526

Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment (fortune.com)

submitted 1 year ago by return2ozma to c/aboringdystopia

204 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago

The US allows only a 3% down-payment.

You are right about being able to afford it monthly. Your numbers seem like they may be closer to what they are in Canada. The median price here in Seattle is $800k which would be a $24k down-payment and a $6000 monthly payment with the average 7.1% interest rate, insurance, and taxes. Don't know what the mortgage insurance would likely be for that but that is likely another couple hundred. That is over $72,000 per year just in housing costs.