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Ours is currently zero but we rent right now and when we purchase land and build or purchase a home it will still remain zero because we will be paying cash.
6800 sq feet, 0.75 acres, subdivision lot
DFW suburb - 25-30 minutes from downtown
Mortgage balance - $1,350,000
Just bought the house a few months ago
I think your definition of "string themselves out on a limb for such a property" is just part of where your ideas are disconnected from reality.
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Originally Posted by highlife2
Yes and most people don't mind talking in my circle.
. . .
Also if someone is aloof its because they know they screwed up and feel bad. People who are doing well have no issues talking about it, how do you think people find mentors in business or real estate or any endeavor in life?
Maybe in your circle, but the world is a lot bigger than you and your friends. There are plenty of reasons to be aloof about financial matters, it's often cultural. Where I come from, if you are doing well and have no issues talking about it, you're a braggart who likes to flaunt your wealth, not somebody to be admired.
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Originally Posted by highlife2
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Originally Posted by Sawdustmaker
If someone is aloof with you when it comes to engaging in your definition of a "real discussion" - take it as a hint: they don't want to talk to you. Mortgage information is public knowledge. You don't have to ask anyone, you can go to the county clerk's office and find out for yourself.
But you cant find out why someone was willing to string themselves out on a limb for such a property. Your first sentence was just reiterating what I already said except in a rude manner.
Sorry, but I agree with Sawdustmaker -- outside of your circle, many people think it is rude to be overly inquisitive about personal matters, including finances. Somebody comes around asking those kinds of questions, I figure they're with the IRS (or worse).
Yes and most people don't mind talking in my circle. Plus I have a good idea of incomes in my industry and my industry is THE highest paying in my area. I know roughly how many people work in the industry because I am privy to at least part of those numbers just from talking to people.
Do you live on an island?
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There are a hand full of business owners outside of my industry that have done well enough to afford a half million dollar home without going out on a limb but its not very many (the OWNERS of a hand full of select businesses but the employees make squat). Most people are going WAY out on a limb.
Where do you live that a $500K house is "doing well enough to afford"?
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There numerous potential catalysts in my area that could result in a sharp downward correction and if that happens a lot of people will be up the creek because they can barely afford their note as it is.
Where do you live and what are those "potential catalysts"?
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Knowing this stuff is really important for anyone who is even thinking about buying real estate somewhere. You don't get the whole story just looking at the public record.
No, it really isn't. It's about how the housing market is going and how much you can afford. Not about anyone else's circumstances.
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Also if someone is aloof its because they know they screwed up and feel bad. People who are doing well have no issues talking about it, how do you think people find mentors in business or real estate or any endeavor in life?
No, they are aloof because you're a nosy ****head.
Mine's about 600 a month, but that's all I'm going to tell you.The rest of it is nobody's business but mine.
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Originally Posted by highlife2
I ask it all the time, since I will potentially be in the market some day I want to know what people are paying.
You do realize that "what people are payng" has so many variables as to be a useless number, don't you? :smack
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If someone is overly sensitive to this stuff then I just don't associate with them. The whole point of any non romantic association is to learn from each other.
And no doubt the first thing you've learned is that someone else's financial details are none of your effing business.
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Originally Posted by highlife2
The reason I ask people is because these people that can barely afford these homes are the ones keeping the "market" price where it is, if people stopped being willing to pay these prices the price would fall.
You really don't understand what motivates people to buy a home, do you?
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Originally Posted by highlife2
But you cant find out why someone was willing to string themselves out on a limb for such a property.
Why would you automatically assume that people overextend themselves when they purchase a home? You must be hanging out with the wrong crowd.
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Also if someone is aloof its because they know they screwed up and feel bad.?
Or maybe they don't believe that their housing choices are any of your business. More power to them.
Mine's about 600 a month, but that's all I'm going to tell you.The rest of it is nobody's business but mine.
You do realize that "what people are payng" has so many variables as to be a useless number, don't you? :smack
And no doubt the first thing you've learned is that someone else's financial details are none of your effing business.
You really don't understand what motivates people to buy a home, do you?
Why would you automatically assume that people overextend themselves when they purchase a home? You must be hanging out with the wrong crowd.
Or maybe they don't believe that their housing choices are any of your business. More power to them.
to each their own, I don't have a use for superficial relationships. The people I talk to like to exchange ideas and life strategys which include detailed discussions about money. Espeically when your trying to procure materials, equipment and even real estate. Better to have a circle of mentors that all help each other than pay a financial advisor 500/hr.
If someone wants to be aloof then I just leave them alone.
We just bought a house. I am not going to say what we owe on it or what our mortgage payment is per month, but I'll just say that our house payments are only about 10 percent of our monthly salary, and we owe significantly less on our house than we make in a year, so I think we're alright.
I'm not going to post our total mortgage amount or monthly payment. We did put 20% down and did a 20 year fixed mortgage, so building equity reasonably quickly. Our monthly payment is pretty high for this area, but we can afford it. We bought in January 2012...hoping to have the whole mortgage paid off by 2022 if things keep going well.
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to each their own, I don't have a use for superficial relationships. The people I talk to like to exchange ideas and life strategys which include detailed discussions about money. Espeically when your trying to procure materials, equipment and even real estate. Better to have a circle of mentors that all help each other than pay a financial advisor 500/hr.
