At current interest rates, 5% down, and an 800 credit score, you're monthly piti is still like 2,700. Assuming you make that 92k/yr, and are traded at 22%, you're monthly take home is 5900. That's 45 percent of your monthly income. "Affordability" is for dinner heavy lifting here
this post was submitted on 18 Oct 2023
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They should have also included some rural areas' home buying prices for perspective against the absurd cost of living in a large city.
Here's my data to add to the list: bought my house last decade in a rural area, while I was making about $45000 annually, mortgage cost per month is literally off the chart at under $800/mo.
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