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jmfbahciv@xxxxxxx wrote:
> In article <el4g4q$l1v$4@xxxxxxxxxxxxxxxxx>,
> lparker@xxxxxxxxx (Lloyd Parker) wrote:
> >In article <el45om$8qk_001@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
> > jmfbahciv@xxxxxxx wrote:
> >>In article <1165332870.593782.314710@xxxxxxxxxxxxxxxxxxxxxxxxxxx>,
> >> |||newspam|||@nezumi.demon.co.uk wrote:
> >>>
> >>>jmfbahciv@xxxxxxx wrote:
> >>>
> >>>> In article <4572475E.BA56AF16@xxxxxxxxxxx>,
> >>>> Eeyore <rabbitsfriendsandrelations@xxxxxxxxxxx> wrote:
> >>>> >
> >>>> >jmfbahciv@xxxxxxx wrote:
> >>>> >
> >>>> >> Eeyore <rabbitsfriendsandrelations@xxxxxxxxxxx> wrote:
> >>>
> >>>> >> >I rather doubt that it does happen all the time in the USA. I suspect
> >>it's
> >>>> >> > just another of your fanciful folksy notions.
> >>>> >>
> >>>> >> Nope. It's fact.
> >>>> >
> >>>> >I still don't believe you. Your 'facts' have been rather fanciful to
> >date.
> >>>
> >>>> All of my brothers and sisters bought their own home before they
> >>>> got legal (21). They were on their second or third car. They
> >>>> worked and supported themselves. All of my relatives on my mother's
> >>>> side had some kind farm business before they were legal.
> >>>
> >>>Even allowing for ultra-cheap tacky portacabin / garden sheds that some
> >>>USians call homes how exactly did they do it?
> >>
> >>None of my brothers would have been caught dead in
> >>a porta cabin.
> >>
> >>> The numbers just don't seem to stack up.
> >>
> >>They did it. Two incomes and paying off the loans first before
> >>buying junk is how they did it. Both my brothers built their
> >>houses. 50% or more of the work was done by their hands and
> >>not by hiring out.
> >>
> >>>
> >>>In most first world countries
> >>
> >>I thought we were talking about poor?
> >>
> >>>a basic starter home costs somewhere
> >>>between 5 and 20x median annual salary.
> >>
> >>If it's 20x, that means that the principle is about 10x.
> >
> >No, he means the purchase price.
>
> Oh, I see. So the loan is going to be triple that which
> is 15 and 60x annual salary. For somebody starting out,
> I'd say find a cheaper place to get started.
>
>
> > That's true around here -- the average home
> >price in the Atlanta area is $156,000. That's 3 times the median income. In
> >the LA area, it's around 9 times. Boston, 6 x.
>
> Yes. Large cities are not the place to start out. So you, as
> a young dewy-eyed adult, do not start out in the most expensive
> cities. You start out in a suburb or a countryside. After
> a decade, you can move up. That's how it's done. You get really
> rich on your balance sheet if you never move.
> >
> >>That's takes 10 years to pay off loan and you own the
> >>house and property free and clear.
> >
> >What? Nobody making around or below the median income can pay off an average
> >mortgage in 10 years.
>
> Yes they can. You just don't spend money on anything else.
>
> >
> >>
> >>> And more still in truly
> >>>expensive hotspots like Tokyo or Hong Kong.
> >>>
> >>>I guess things are a bit cheaper in Outer Hicksville but what are the
> >>>numbers?
> >>
> >>You people keep assuming that only one person buys the house; only
> >>one person pays for the house; and that only the most expensive
> >>housing is bought.
> >>
> >
> >There're a lot of single parent families, you know.
>
> Oh, now we are talking about people who don't plan and do
> things bassackwards. Now we're getting to misogynous assumptions
> of those Liberals you like to parrot.
>
> > And I was using the
> >average home price, above.
>
> So two single-headed families can pool their resources if they
> have to live in such an expensive place.
>
> >
> >>>
> >>>> None were rich. None were even middle class. Most were poor.
> >>>
> >>>This appears to be yet another of your folksy fairy tales. You cannot
> >>>be poor and buy a house - in the UK at least in the 80's the banks
> >>>would not even look at you for a home loan unless you had at least a 5%
> >>>deposit to put down.
> >>
> >>How does anybody get that 5% down payment (if you intend to borrow
> >>to buy)?
> >
> >How indeed? The mortgage industry is luring people who can't afford it, with
> >interest-only loans, no down payments, etc. That's why defaults are up.
>
> Defaults are up because people buy things that are too expensive
> for them. Or they are members of that population (which is
> increasing) who assume everything should be free and it is
> their right to buy everything they want even if they don't
> the money.
>
> >
> >>
> >>> You can be cash poor after buying a house though
> >>>and finding all the things that urgently need doing to make it
> >>>habitable.
> >>
> >>sure. But you aren't poor and all your "rent" is going into
> >>your real estate pocket. I didn't buy a house until I was
> >>told my rent was going up. So I went out and bought a house
> >>where the monthly payments were less than my current rent.
> >
> >I betr you saved up for a down payment though.
>
> So? That's how you do this buying your house biz if you
> are going to take out a loan. You can also take out a
> loan that includes the down payment. Is it now a sin
> to save for the down payment?
>
> /BAH
you really have no ing idea.
people cant move a hundred miles away from where they work to get
cheaper housing. your whole ing posting history is an example of
how disconnected from reality you now are - if you were ever in contact
with it.
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