this post was submitted on 26 Nov 2023
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[–] Anamnesis 10 points 1 year ago* (last edited 1 year ago) (2 children)

I make about $75k a year, but to afford a $700k house (which is a "reasonable" price) near my city (Seattle), I'd have to make $150k per year. The only affordable houses are two hours' drive away, and there are no "starter" homes to buy. I can skrimp and save for the rest of my life (and I am). But unless I get a huge raise (and I'm already above the median national income), buying a house is impossible. Not just hard, economically impossible.

[–] [email protected] 7 points 1 year ago

Have you tried just making more money?

Jeez, you poors are just so lazy.

(I really wish this weren't needed, but I think it is) \s

[–] time_fo_that 5 points 1 year ago* (last edited 1 year ago)

I'm also in Seattle and it's bad out here. I was looking at townhouses last year before the rates went up but couldn't get a mortgage because of a limited amount of work experience since getting my second degree during the pandemic. I was actually surprised that I could have afforded a decent townhouse in like Edmonds or Shoreline until the rates shot up - going from 3.5% to 7% adds something like $1000 a month in interest on a $400k mortgage. Then I realized I have never lived alone before and wasn't sure if buying a place was the best way to try that out lol. Average rent in Seattle right now though is like $2300-$2400 a month which is close to 50% of the take-home income of someone making $100,000 per year. It's insane.