fandomsecrets | [ SECRET POST #5484 ]

[ SECRET POST #5484 ]

⌈ Secret Post #5484 ⌋

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tbf a lot of that can be very regional. I was not at all well-off in college but I had a pretty big apartment because apartments in that area in general were all mostly around the same size so there really wasn't such a thing as a "small" apartment versus a "big" apartment. You basically got either a one-bedroom or a two-bedroom with not much variance in size between different apartment complexes.

This is true, but boy when it comes to big-city apartments (especially New York), they get it so, so, so wrong.

Oh yeah no, in New York that's definitely bullshit. Mine was in a small town where pretty much all of the apartment buildings were built using similar plans so any given one-bedroom apartment was going to be very similar in size with the exception of like... basement apartments that might be a little smaller and cost a little less.

I'm in a very small town and the apartments vary, but cheap ones are *small*, and mostly pretty old and grungy, and so are most of the homes for rent. The ones that aren't are priced for the military members who also live here, which puts them out of reach of most of our low-income residents.

Pretty messed up.

The military pegs housing allowance to "market rates," so it's probably down to landlords being greedy and asking more than they could normally make.

They charge extra 'cause they know the military will cover it, basically - nobody else is buying the stupidly expensive houses around here (plus, of course, if you're military, everyone gives you credit, etc.... (much to our detriment, when the exSO and I were first married and he was Army, omg. Our dumb asses and our credit cards.....)

Lol, yeah, I've lived in Vancouver for the last fifteen years, and there's always a bit of a mental struggle for me when a character is stated or implied to be lower middle-class or working class and then their home is a sizeable free-standing house with fresh paint and shit. That is like $1.5M here, minimum. So I see their house and I instantly call bullshit. But then I remember there are lots of places where owning a free-standing home isn't possible only for the wealthy and I'm like... Fine!

Yeah, 99% of the homes on TV are so out of the price range of most people, it's nuts.

Then you watch something like 'Property Brothers' and people are looking at homes that are a quarter to half a million bucks, with a mortgage that must be at least a couple to three thousand a month (or more), and they don't do anything spectacular or really high-paying, and it's just baffling.

I've never seen one home on those shows that I would say is worth that much; they're just not that special.

da

Average mortgage payment on a half million dollar home is less than the median rent for a one bedroom apartment here. Depending on their circumstances, if they can scrounge up the down payment, it could make financial sense.

Hrrrmmm...may be in some areas. But to hear these people talk, they're paying 2 or 3000 a month. Plus that's not really taking into account property tax and insurance, which can vary wildly.

I don't think I know anyone who could 'scrounge up' the 10% recommended for a down payment on a house that costs that much. Maybe I only know poor people, who knows, but almost any down payment is out of reach for a lot of people.

That's really not that much if you're splitting it between two incomes. Like, around here, the average one-bedroom apartment is over $1000 a month, so $2000 or $3000 assuming both partners are contributing isn't bad at all.

That's just so incredible to me. I literally know no one who could afford that, and most people are on two salaries.

Well, minimum wage here is also over $15, so that definitely plays a role. Most jobs have salaries that pay way more than that hourly.

Yeah, ours *just* went over 11, and most jobs paid a lot less for a long time.

Yeah, I'm the Vancouver anon from above and 2K per month is nothing around here. I mean, my 50-year-old, shitty one bedroom apartment in an undesirable suburb is $870 per month in rent, and the only reason I don't move is because it's actually a really good deal. I couldn't afford $2K per month personally, but the average rent around here is probably around that. So if you're already paying that in rent, and you have two stable incomes, then it makes sense to be investing that money into a property instead.

ayrt and exactly, when rent is close to the same price as a mortgage, then in a lot of cases it just makes sense to buy so you actually own.

$870 is really good for my shitty Florida town, so I don't blame you! Nicer, new apartments here are $1,400+ and houses are more.

That said, I had to put $35k down on a $230k house to get a $1,500 a month payment, so the million-dollar mortgage on a non-software-engineer salary makes no sense to me.

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[ SECRET POST #5484 ]

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