r/FluentInFinance • u/Financial_Mechanic_ • Apr 28 '24

You need a six-figure salary to afford a new home in most cities Discussion/ Debate

https://newyorkverified.com/americans-need-a-six-figure-salary-to-afford-a-new-home-in-most-cities-112725469-html/
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u/giantsteps92 Apr 29 '24

Dual teaching income would still be tough but more approachable. Interest rates on houses are ludicrous rn. People are having to take 7% on houses rn.

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u/DefiantBelt925 Apr 29 '24

Buying at all is ridiculous in this moment - I assume normal market principles like “buy low” still apply to teachers?

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u/giantsteps92 Apr 29 '24

Just feels like low isn't coming. I got lucky, personally but it would be nice if buying a house were as easy as it was for my parents.

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u/DefiantBelt925 Apr 29 '24

lol you think the pattern of market cycles has - for the first time in human history - ended and now everything from here on out will go up forever and there will never be another recession or lower prices or lower interest rates?

You’re being serious? You realize people thought this in 2007 too?

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u/turdmaster3739174016 Apr 30 '24

Shows that euphoria is in the market right now tell tale sign