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Salary Needed To Buy a Home In The US
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this post was submitted on 18 Oct 2023
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Personal Finance
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I saved for a few years, and every amount I saved was offset by the housing prices going up. I eventually had $300K saved up and couldn’t afford the down payment on a family home.
That’s just completely and utterly unsustainable. I live in San Diego County now, which isn’t a whole lot better.
My family was renting a house is S.D for more than a decade. They got booted when the son-in-law of the owner stuck her in a retirement home and needed to pay for it with the house. (Speculation from what we were told, and put together)
It was a shitty, shitty, home. Carpets were gross and floor underneath likely needs to be redone. Kitchen is from the 50's or 60's but with 90's appliances. It had a bad linoleum floor, with completely out of date cabinets and faux bricks that had been painted over a bunch of times. Place likely needed new plumbing and definitely new electrical. The roof needed work; there was likely mold in the bathroom including places in the wall that were squishy. The yard was small and filled in with broken bits of concrete mixed with clay.
It was sold for more than $750,000