Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
I bet every single one of them bought prior to the bubble and rate increase that started during the pandemic.
You are outta your mind if you think they are dropping $100,000-$300,000 for a down payment on a house, only to turn around and pay $3,000-$6,000/mo for a mortgage.
Those properties you see being sold are wealthy folks using them as investment vehicles.
Those numbers are very regional, though. $100K down payment is 20% for a $500K purchase, and lots of homes are under $500K. I just bought a new home (as in, literally just built & never lived in) here in California for less than that.
I bet every single one of them bought prior to the bubble and rate increase that started during the pandemic.
You are outta your mind if you think they are dropping $100,000-$300,000 for a down payment on a house, only to turn around and pay $3,000-$6,000/mo for a mortgage.
Those properties you see being sold are wealthy folks using them as investment vehicles.
Those numbers are very regional, though. $100K down payment is 20% for a $500K purchase, and lots of homes are under $500K. I just bought a new home (as in, literally just built & never lived in) here in California for less than that.