Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-07-2017, 09:25 AM
 
445 posts, read 413,848 times
Reputation: 620

Advertisements

Quote:
Originally Posted by jdallas View Post
Part Time Income?
Pakistani Transportation Institute?
Pulled Together Industrial space?
Permanent Trailer Installation?
Probably Price to Income ratio.
Reply With Quote Quick reply to this message

 
Old 09-07-2017, 09:32 AM
 
11,230 posts, read 9,325,075 times
Reputation: 32252
Quote:
Originally Posted by Bp25 View Post
Probably Price to Income ratio.
Ah.

Well, for most people it's all about the monthly payment. And the current very low interest rates allow a lower monthly payment for a higher price. I am not sure about mortgage qualification guidelines these days; I have read that they are tighter than in the Bubble I days of 2004-07, but I suppose they're not really all that tight.

Back when I was a youngster (and dinoaurs roamed the earth) the guideline was to pay no more than 1/3 of your gross for PITI. The exercise of figuring out for various percentage down payments and current interest rates, what the max. Price/Income ratio is, is left for the student.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 10:03 AM
 
455 posts, read 578,681 times
Reputation: 383
Right now you can go 50 percent of gross for the monthly payment.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 10:14 AM
 
445 posts, read 413,848 times
Reputation: 620
Quote:
Originally Posted by turf3 View Post
Ah.

Well, for most people it's all about the monthly payment. And the current very low interest rates allow a lower monthly payment for a higher price. I am not sure about mortgage qualification guidelines these days; I have read that they are tighter than in the Bubble I days of 2004-07, but I suppose they're not really all that tight.

Back when I was a youngster (and dinoaurs roamed the earth) the guideline was to pay no more than 1/3 of your gross for PITI. The exercise of figuring out for various percentage down payments and current interest rates, what the max. Price/Income ratio is, is left for the student.
I was thinking that he meant PTI for investors buying a property to rent out. I may be wrong though because PTI for investment is just one metric and ROI is the one I care about. The rent didn't go up to keep pace with higher prices and property taxes, so the ROI has been going down if you don't consider potential capital gain as part of return.

Pretty soon in DFW, the rent will not cover mortgage/tax/insurance even with a 25% down payment, which means you are investing the down payment and any monthly shortfall in the hope that you will get capital appreciation. Austin is already at that point.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 10:28 AM
 
1,173 posts, read 1,084,566 times
Reputation: 2166
Quote:
Originally Posted by Hacker1234 View Post
Right now you can go 50 percent of gross for the monthly payment.
Why???

Maybe if the individual has no other debt to speak of....and its a 15 yr mortgage.

Otherwise... very risky indeed.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 10:30 AM
 
455 posts, read 578,681 times
Reputation: 383
Here in Seattle it is pretty common. You will see it a lot in places like SF Bay Area and LA.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 10:55 AM
 
1,173 posts, read 1,084,566 times
Reputation: 2166
Quote:
Originally Posted by Hacker1234 View Post
Here in Seattle it is pretty common. You will see it a lot in places like SF Bay Area and LA.
Oh, right. Otherwise they wouldn't be able to lend much at all given prices there.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 11:00 AM
 
455 posts, read 578,681 times
Reputation: 383
Thats right, but it does work out for people. Even with borrowing so much, incomes are high enough that people have a lot left over with income.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 11:36 AM
 
165 posts, read 196,907 times
Reputation: 201
Quote:
Originally Posted by Hacker1234 View Post
Thats right, but it does work out for people. Even with borrowing so much, incomes are high enough that people have a lot left over with income.
It will end in tears again. People just don't learn from history.
Reply With Quote Quick reply to this message
 
Old 09-07-2017, 11:51 AM
 
455 posts, read 578,681 times
Reputation: 383
What do you mean.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
Similar Threads

All times are GMT -6. The time now is 09:27 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top