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I'm in Colorado. $10/hr won't get you a house here, either. (Gotta have a barn for the horse,JK!) There is nowhere in this country where $10/hr ($20,000/yr) is enough income to buy a house. "Great Clips" is a haircutting chain. We have lots of them here in CO.
I'm in Colorado. $10/hr won't get you a house here, either. (Gotta have a barn for the horse,JK!) There is nowhere in this country where $10/hr ($20,000/yr) is enough income to buy a house. "Great Clips" is a haircutting chain. We have lots of them here in CO.
TMany of them, especially the ones who work for themselves, make more money than people with degrees. Think about how much you pay a plumber to come to your house, or the exterminator??!?! Seriously.
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And if they are uneducated just think how easily it will leave their hands...
Quote:
Originally Posted by JDMBA
Ugg. Hey, I have three graduate degrees, a law degree, an MBA in finance and investments and a teaching degree (I teach physics) and the last person I would want to hang around with would be someone who would only want to associate with me because I met "educational" requirements.
Well it works out then, because I find that people have MBAs, etc are rarely educated. Due to the poor education system having a degree is not even close to being a sufficient condition for being educated, there are tons of people with degrees that are no more educated than your average plumber. Furthermore, degrees are often very specialized and being an educated individual is about a lot more than having knowledge of one thing.
There is nowhere in this country where $10/hr ($20,000/yr) is enough income to buy a house.
That's not true, there are many areas in the country where you can get a house in the $60~$80k range which would be affordable to someone making $20k/year.
That's not true, there are many areas in the country where you can get a house in the $60~$80k range which would be affordable to someone making $20k/year.
The general rule of thumb is a mortgage 3X your income, e.g. $60,000 for a $20K income. With a down payment, you'd probably get a house of ~ $65-70K. Now you show me where in the US you can buy a single family house for that amount of money.
Keep in mind, my comment about making $10/hr at Great Clips was for here in the metro Denver area, where there's darn little in the way of sf houses under $200,000 and virutally none (that you would want to live in anyway) under $150K. In a lower COL area, it might be $8/hr or $16K/yr.
Now you show me where in the US you can buy a single family house for that amount of money.
Any state that I'm familiar with has areas where you can get houses for $60k. Sure they aren't the greatest areas, but they are also not horrible either. Someone making $20k/year is not going to be able to rent in a much better area.
Anyhow, there are ~600 houses for sale under $60k in Pittsburgh:
The list of areas is rather long, its odd that you even question it.
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Originally Posted by Katiana
Keep in mind, my comment about making $10/hr at Great Clips was for here in the metro Denver area, where there's darn little in the way of sf houses under $200,000 and virutally none
I don't know enough about the Denver area to comment either way on this, I just know your more general claim is incorrect.
Interesting. Maybe these are in undesirable areas. Some are condos, some are trailers, some are probably co-ops. They are all pretty small in terms of the space we have, but there were quite a few listings for under $60,000 here. They might also be short sales and foreclosures, of course.
The "homes" in Riverside were mostly condos, a few tiny, single family houses. Interesting that you would choose Riverside, which is far inland from the coast.
RE: the condo in Denver, it is 40 yeasr old, and was probably a conversion from an apartment complex.
Of course you could find a 60K house in Pittsburgh or Cleveland. Pittsburgh in particular is known for its low housing prices b/c of the great exodus from the entire metro area in the 1980s.
You can cherry pick real estate sites and find a few homes for 60K, but surely you know that 60K is low, even for Pittsburgh:
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