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FLPanhandle

(7,107 posts)

3. Worst case scenario he uses

Reply to marmar (Original post)

Tue May 12, 2015, 10:00 PM

May 2015

First, he picks 20% down payment as the benchmark and you can get a mortgage for far less than that down.

Second, he picks the most expensive places San Jose and San Fransisco with a $1 million dollar price tag.

How many first time buyers in this country are going after $1 million homes?

Take Tampa or Cincinnati: it's closer to 12 years for a 20% down payment, but if you look at what it takes to actually buy a home, that would drop to 3-5 years of saving.

Far different than "37 effing years"

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Highlight:

How Soaring Housing Costs Impoverish a Whole Generation and Maul the Real Economy [View all] marmar May 2015 OP

I will never own a home PowerToThePeople May 2015 #1

While homeownership miht be the "American Dream" .. 1StrongBlackMan May 2015 #4

"mobility" to me PowerToThePeople May 2015 #5

Agreed. n/t 1StrongBlackMan May 2015 #6

Most people buy FHA 3.5% down, cheaper than rent in Ohio we can do it May 2015 #2

Worst case scenario he uses FLPanhandle May 2015 #3

In reading the rest of the article, it has a chart with different cities around the countries Hestia May 2015 #7

I got lucky in the 90's with a job working for a local investment bank boutique kimbutgar May 2015 #8