SpaceCoastVol
Jacked up on moonshine and testosterone
- Joined
- Sep 10, 2009
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It might take you a little longer, but yeah. Dink isn't wrong. My first house was $120K at 11%. I was making LT pay in the Navy that wasn't all that great in the mid 80s. My second house was $187K at 9% on $75K/year in the early 90s. I don't remember the payments. There are some things you have to do without, but if you want it, you can make it work.Bootstraps and manage your finances eh? Have you seen what housing costs right now? How TF are you going to bootstrap up enough to pay 400-500k at 7% interest in a metropolitan area?
Cocktail napkin math follows:
$400K would be $2600/month at 7.25%. If you factor inflation in (at 3%) that $400K house was about $150K in 1991.