It may be impossible in NYC, LA, SF but in other parts of the country its do-able.

My girlfriend is going back to school to complete her bachelors degree and working at the same time. She is saving all her pennies, plus I'm trying to do better for myself as well (careerwise) so we can buy our house one day.

 

In the south where nice brand new homes run around $150k - $300k it is very much possible.

-Nate

 

The only reason I was able to get my Evo was cause I decided to Invest in a house and pull out some equity.

!!

 

I would say realistically the California market has about 18 months left before it starts buckling under its own weight. If what I've heard is true, the million plus market is already feeling a crunch. I bought a condo, and since the price is lower now that part of the market is being elevated. I bought my condo at 339k and it appraised at move in (3 months agao) at 370k. Condos in this area code are selling for $412 a square foot (on average). That puts my place around $400k. As of right now, I am either selling this place in a year (there is an anti-speculation clause-you must hold for a year) or converting it into high-end corporate housing.

 

owning a home is much more than owning a collection of building materials. The tax savings on the interest you pay, the overall credit (and credibility) boost you get for being a homeowner... furthermore, even homes that don't appreciate in value quickly still, over the length of the loan, DO appreciate. You also always have the option to sell or refinance if the opportunity arises to make your house work for you. There really is no comparison between owning and renting, unless you're strictly talking about the VERY short term or you have major credit problems. There are so many programs these days to help people buy houses that there's almost no excuse. Even if it's just a small "starter" home, it's (almost) always worth it.

 

Bump for more votes

I am from Florida and we have some hanging chads...

-Nate

 

Still mooching off the parents . However, I commend all you evo owners that own a house, or are in the process of paying off your house payments. I started working 2 months ago and the money I make just evaporates, it's crazy! I always thought that the money I earned would just sit in my bank, but after you pay for car payment, insurance, gas, clothes, food, movies, and some other tid bits, I've got like 50 dollars left. Mind you, I still live at home with my parents and they help with the payments and insurance a little. Live sucks, oh well .

 

21 looking to buy right now with my pre-approval right now in either palm springs or palm desert around 400k

 

25, cant afford to buy a house in socal, although I make decent $$! My stocks have been doing pretty good so far this year though so I am not too worried I dont have a house under my name!

 

Owning a home used to be some people's retirement plans. They would appreciate 1-5% per year and when they were ready to retire, they could sell and move into a smaller home and live off the cash. Houses are one investment that has not fallen in value historically. I just purchased my home in September, so I definitely have a lot of mortgage to pay off.... but I have big plans for it. And it is correct... if you pay your mortgage on time, your credit will get better, you get discounts on car insurance, etc... lots of varying benefits. I would recommend people try to buy a house if it is financially possible for them.

 

been a home owner.. for about 1 1/2 years.. nothing like NOT RENTING!!!!

 

if my parents kicked me out, and i had to live in my car, then yes im paying on a mortgage. lol

 

You would need to add Air Conditioning if you did that... LOL

-Nate