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Old 02-04-2008, 09:33 AM
 
Location: Prison!
913 posts, read 2,892,205 times
Reputation: 267

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Quote:
Originally Posted by anifani821 View Post
Well, according to gov't stats, it is hard for a family - parents w/ 2 kids - to make it in most areas if they make less than $50,000. And the OP wanted a house, right? I have not scrolled back but seems - wanted a house of 2000 or so sq. ft? I think middle class is hard to attain even at $75,000.

What I mean is . . . a nice home of 2000 sq. ft . . . hard to find under $150,000 anywhere . . . plus taxes/insurance wh/ can vary a lot depending what city/state . . .

I have a friend, single, who makes about $65,000 a year . . . and it is a stretch for her to pay for her $145,000 house (1600 sq. ft), an inexpensive high gas mileage car, gas, groceries, personal properties taxes, utilities, healthcare. She also has a son in college, and even tho he has some student loans, there are expenses she pays for . . . not much wiggle room for entertainment at all. And she is very good w/ stretching her money.

So i don't know. A couple w/ kids making even $50 -60,000 in service sector jobs, wanting a 2000 sq. ft house. It would be very hard in any city. Maybe if no car and the expenses w/ that . . . wh/ would mean a city w/ mass transit . . . and most smaller ones do not have that . . .

I am in Charlotte and my son would not be able to live here if he were to make $25,000 a year, unless he rented an apartment, and even then, it would be very hard. I know many young people here who have roommates and are renting and making in the high $20s and find it very difficult to make ends meet.
A friend single making $65k year. After taxes his take home would be around $43k roughly equal to $3.5k a month. (that's 33% tax bracket)
For a $145k with let says 6% interest and her PITI would be around $1300, that would leave her about $2200 for other bills and food and whatnot...

and since she has a kid on top of that...she definately bring home more ...who knows how much debts she racked up before the house right? ...credit cards, car payments student loan....
for a $65k year...a lot people can survive

As for OP
2200 sq ft home for under $150k would be harder to find unless you go for the fixer upper or not so nice neighborhood, or jsut move to the eastern part of the city/county as they are still cheap there
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Old 02-04-2008, 10:14 AM
 
Location: State of Being
35,885 posts, read 67,172,097 times
Reputation: 22373
Quote:
Originally Posted by myselfdotcom View Post
A friend single making $65k year. After taxes his take home would be around $43k roughly equal to $3.5k a month. (that's 33% tax bracket)
For a $145k with let says 6% interest and her PITI would be around $1300, that would leave her about $2200 for other bills and food and whatnot...

and since she has a kid on top of that...she definately bring home more ...who knows how much debts she racked up before the house right? ...credit cards, car payments student loan....
for a $65k year...a lot people can survive

As for OP
2200 sq ft home for under $150k would be harder to find unless you go for the fixer upper or not so nice neighborhood, or jsut move to the eastern part of the city/county as they are still cheap there

As for the scenario I gave, I was saying - no kids at home, but still expenses. With kids at home, add expenses. Plus she is single, so only one car. The OP was implying - service sector job - so we are talking maybe $30,000 a year - so for 2 working people - $60,000 a year. And no, her son files himself and she does not take him as a deduction so he can get better student loans. My point is - if one person making more money and having no kids at home has a hard time making it . . . and the OP is saying - family - then - uh - more groceries, probably 2 cars, etc.

Plus, yes my friend has a house - but to get one in that price range - she has a 40 miles commute back to Kansas City . . . and her house has needed a lot of work, so she has had to take out loans to pay for that. So she has racked up money replacing roof, flooring, appliances, tiling, plumbing, etc.

My contention still is - a family wanting to live off salaries that are no more than $15/hr . . . and want a house of 2000 sq. ft . . . are gonna have a darn hard time making that work anywhere.

Last edited by brokensky; 02-04-2008 at 11:00 AM..
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Old 02-04-2008, 12:38 PM
 
3,326 posts, read 7,751,221 times
Reputation: 1973
Kansas City hasn't been listed yet, I don't think.
Being able to not only live on a blue collar income, but just one income at that, was a big reason we moved to the area. The average income is slightly above the national average, and the houses are cheaper than the national average.
Prices do vary widely from one section of town to another, but even the more affordable, middle-class areas have good schools, and are safe. There are lots of houses in the suburbs that go for less than 110k. Of course, you won't be getting 2k square feet, but you can easily get 1000-1500, with a garage, full basement, and fenced in yard... in good condition, to boot.

This is just my opinion. I don't intend to offend anyone, but I think way too many people buy houses that are much bigger, and much more expensive than they can truly afford. My house was built in the 50's. 3 bedroom, 1 bath. People used to raise 2,3, even 4 kids in such a house. Now people think they'll shrivel up and die if they don't have a bedroom, a bathroom, both with walk-in closets of course, and garage space for each individual person in the house!
Unfortunately, they don't even build such houses as mine any more. Consequently, the foreclosure problem will continue as long as people are expected to buy houses 2-3 times what they can realistically pay.
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Old 02-04-2008, 04:21 PM
 
808 posts, read 2,147,220 times
Reputation: 327
Pittsburgh? An absolutely wonderful city with very cheap housing. In fact, the entire rust belt is full of cities with plenty of cheap housing.

Pittsburgh, Buffalo, Cleveland, etc. Indianapolis and Columbus too if one's looking for a more "new" city as opposed to one with an older housing stock.
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Old 02-04-2008, 04:26 PM
 
Location: Polish Hill, Pittsburgh, PA
30,205 posts, read 67,351,355 times
Reputation: 15854
Quote:
Originally Posted by OREGONRAIN View Post
Ever feel like we are all running out of places to go to
There's always Scranton!
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Old 02-04-2008, 04:33 PM
 
Location: Southeast Missouri
5,812 posts, read 16,657,970 times
Reputation: 3335
A lot of midwest is affordable, especially rural areas. STL and Kansas City are both pretty affordable, but not as much as rural areas.
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Old 02-04-2008, 04:45 PM
Status: "Nobody's right if everybody's wrong" (set 27 days ago)
 
Location: New Albany, Indiana (Greater Louisville)
9,838 posts, read 21,144,826 times
Reputation: 9420
Think Mid America

There are tons of great, mid sized cities which offer a taste of big city living w/ small town costs. Cities w/ a moderate growth rate are also more affordable than really fast growing ones.

I'd say Louisville, Indianapolis, St Louis, and the Kentucky side of the Cincinnati Metro would be the best ones to look at
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Old 02-06-2008, 03:24 AM
 
Location: Michissippi
3,116 posts, read 7,160,055 times
Reputation: 2055
Quote:
Originally Posted by tallrick View Post
Miami has a horrible job market and is unreasonably expensive. I can't explain this.
Isn't one of the reasons for the expense of housing in Miami the fact that the city and the entire metro area back up to the Florida Everglades? If I remember correctly (from a visit to the area), there's a big fence along the border with the Everglades, beyond which development is illegal, thus, there's a strip of land along the coast, say 15 miles deep, where development is allowed. Am I right?

Last edited by Bhaalspawn; 02-06-2008 at 03:34 AM..
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