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RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
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If you don't make $115,000 you likely can't afford or shouldn't afford the median home in the Phenix area. Median single family home price in Phoenix right now is $435,000 In order to afford that at interest rate, you're looking at a monthly payment of about $ 2,800 or $3,000 and they say you shouldn't spend more than 30% of your income on your housing cost. So a monthly payment of about $2,800 added up over a year is about 34. Grand 34 Grand is about3 % of $115,000 Just know the median mortgage payment in 2020 was $1,500 People are starting to realize the actual impact of monetary policy and the FED jacking up the FED fund rate and inflation like we're all getting a brutal lesson on the economy.
Should i short loans again? Thats what this sounds like.
None of that calculates in HOA fees or Taxes. This is why you budget for 25% of your income to cover it all.
Just know that with 115k a year you can easily save for the same house for 3 years assuming your partner has half of what your earning, and the only issue that your solving right now is the issue that you create.
I make 90 000 Eur per year, saved for 5 years got myself an apartment no credit at all, 100 sqr meters 300k euro and even got some money on the side for a 1 decar of land to build a summer house onto right next to the sea.
The problem is that you American are the dumbest lot on the planet earth, you see people outside that make over 30k a year know how to use their money. Just don't buy a brand new car each year, don't spend 5k on a stupid mac each few months, don't eat out, might lose few pounds and actually learn your first skills, you know just like in the sims and most of all, don't rent a mansion, get yourself a modest place around your budget and you will get there.
Over there every single 5 om resistor brain can make 120k a year, just by filming his stupid head all day, and still can't figure out how to save 300k.
The Federal Reserve is unconstitutional
Agree with her but did she have to eat while talking about that ?
bold of you to assume people are actually understanding the impact of monetary and fiscal policy, rather than continuing to blame something else
Well, Biden should have made a debt payment instead of signing in a new debt ceiling, causing us as a country to fall in credit score from A+ to A-. Hence, all the new interest rates befallen to the people. Sorry, but it's true.
You can thank Joe and the Hoe and the rest of the demonRAT party for this bullshit!!!!!
I was cheated out of a chance to own a home and get a family and a good job, so im casually and maliciously just being a drain on those very same people. I refuse to play their game because i can never win, so I'd rather just have fun on their expense. I'd love to be a normal tax paying citizen who contributes to the GDP instead of draining it, but they made it way too unfair and hard. I'm educating more and more people on things they don't want the public to know about, and telling everyone how they're being screwed over 🙂
And it has nothing to do with politics, no matter which side it's the same shit with a different label anyway.
You think it's bad there don't come to Canada
people were warned about this and they ignored it.
She says, eating a very nice salad sitting in her Tesla…
30% of your income on housing. Not your mortgage. Housing includes property taxes, utilities, repair and maintenance. And saving for 3% of the value of your home for future replacement when it inevitably becomes unlivable.
Bidenomics
There's people out there commenting that the interest rate currently is about where it should be, that it has actually been exceedingly low over the past 10 years. Which sure, it was a fine interest rate… back when the housing market was reasonably priced.
It is not reasonably priced. My home's gone up in value by about $90K from my purchase price 6 years ago. We're headed toward another collapse. Maybe not quite as bad as the '08 sub-prime mortgage collapse was for the entire economy, but the housing market's going to be significantly impacted.
You voted for this.
Let's go Brandon
Vote blue to screw you. Lol
But the biden administration said the economy is the best its ever been, did they lie? 😅
In my state a livable wage to afford rent of about 1,200 a month because the price of everything else over here is out of control comes out to be about 80k a year.
This is why prices should be fixed.
But no more mean tweets! Morons
What if two people making 60 each, hot marry, saved I bet they could afford it
Actually, we’re still suffering from the negative effects of COVID
Don't live in a Democrat run city… problem solved
The Fed has nothing to do with it. Stop trying to blame everything on Biden. It's hedge funds and investment firms buying property that is jacking up the prices. The poor are competing against their own 401ks. And losing.
Inflation is hidden taxation
And that doesn't count municipal taxes.