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I agree! If I make enough to own a house and be comfortable, ill go ahead and buy. Otherwise ill rent a lot in a mobile park and get a mobile home for almost free. All the money ill save will go for "fun" and save some for retirement.
To directly respond to the topic question, with these prices around here, we can afford a very comfortable industrial sized refrigerator box.
Wow thats insane! I take it you are from n. NJ? Ive heard its so expensive because its a direct commute to NYC on the fast highway. People who want to work in NYC or be an easy commute away but cant afford a large condo in NYC are buying houses in n. NJ instead.
We're considering it very seriously. If things don't change, we may do so within the next couple of years. Actually, I'd like to move north anyway, even if things work out. But we're not poor, I was just exaggerating because of the prices around here (actually, with these prices I guess we're all becoming poor...you know, we're doing away with the "middle class" thing...if that's the case, since I'm middle class, if it ended up obsolete, I guess I'd be poor, because I sure as hell am not rich ). We can afford a smaller home I'm sure, but I don't want to spend any money on any homes here right now. Besides, even though I'm still "young" in my early 30's, it's later than I thought it would be for owning a home....so when I do buy a home, I don't think I want to move again. So it will be a long hard search and decision!!
We're considering it very seriously. If things don't change, we may do so within the next couple of years. Actually, I'd like to move north anyway, even if things work out. But we're not poor, I was just exaggerating because of the prices around here (actually, with these prices I guess we're all becoming poor...you know, we're doing away with the "middle class" thing...if that's the case, since I'm middle class, if it ended up obsolete, I guess I'd be poor, because I sure as hell am not rich ). We can afford a smaller home I'm sure, but I don't want to spend any money on any homes here right now. Besides, even though I'm still "young" in my early 30's, it's later than I thought it would be for owning a home....so when I do buy a home, I don't think I want to move again. So it will be a long hard search and decision!!
Your renting now, right? Probably cheaper than owning, sad to say. No equity in renting so I am not a fan of rent other than short term like college dorms or to settle down in a new city while you look to own. Even if you could afford a house in n. NJ do you feel the high prices are worth it? Those that do take the plunge as they are happy being there. Those who seek cheaper houses move elsewhere. Its all about deciding if you are happy in this desirable location, happy with your job and the high salary(it would be lower elsewhere)
I got nothing against s. Florida, I just simply cant afford it. Even if I got a girlfriend to live with, our dual incomes still would not be enough, sadly not even close for a nice $350-400k house. Might just be enough in n. Florida as house prices are 50-60% of s. Florida. I however am likley moving out of Florida where I can get a reasonable or even nice house for $50k, something a $30k annual salary will do for me and others making that.
Your renting now, right? Probably cheaper than owning, sad to say. No equity in renting so I am not a fan of rent other than short term like college dorms or to settle down in a new city while you look to own. Even if you could afford a house in n. NJ do you feel the high prices are worth it? Those that do take the plunge as they are happy being there. Those who seek cheaper houses move elsewhere. Its all about deciding if you are happy in this desirable location, happy with your job and the high salary(it would be lower elsewhere)
I got nothing against s. Florida, I just simply cant afford it. Even if I got a girlfriend to live with, our dual incomes still would not be enough, sadly not even close for a nice $350-400k house. Might just be enough in n. Florida as house prices are 50-60% of s. Florida. I however am likley moving out of Florida where I can get a reasonable or even nice house for $50k, something a $30k annual salary will do for me and others making that.
You know I agree and disagree with you, both at the same time. I agree renting is not giving us equity...however, like we were saying, with these prices, you're not getting equity when you own either because there are so many homes going into foreclosure. You get these young couples who have no downpayment, they do 100% financing. They figure out that with both of their jobs, they can just make all the ends meet and they jump in. They never consider that the mortgage rate is usually going to end up being an adjustable and in the end, they've maxed out, can't afford it even if they do a re-fi, so they lose the house anyway. Nah, I'll stick with what I'm doing for now, it has hurt so far, why risk making the change right now.
It seems like you lose either way, rent or buy loses money. I feel its the same way here in much of Florida, unless I was rich, I wouldnt buy there either. Where would you like to move to?
It seems like you lose either way, rent or buy loses money. I feel its the same way here in much of Florida, unless I was rich, I wouldnt buy there either. Where would you like to move to?
Anywhere in New England above Massachussetts (that would be the lowest on the map for me). I've considered Connecticut, but there it's either rich or poor too, it's crowded and it's too close and too similar to Jersey in a lot of ways. If I'm going to move then I'm going to mooooove.
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). We can afford a smaller home I'm sure, but I don't want to spend any money on any homes here right now. Besides, even though I'm still "young" in my early 30's, it's later than I thought it would be for owning a home....so when I do buy a home, I don't think I want to move again. So it will be a long hard search and decision!! 
