Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
Actually, such a home where I live would be impossible to purchase at half a million dollars. In Seattle, a half million dollar home is a steal, a bargain, a robbery, a theft.
Where I live, across the border, a half million dollars gets you a one-bedroom condo at about 600-800 square feet. A million gets you a townhouse. $2-3 million gets you a house, in the suburbs.
I don’t even know what point you’re trying to make. The person purchased a starter house at a pricepoint they were approved for. Maybe they don’t want a 40 minute commute to Seattle. Why are so up in arms about somebody buying a house? They used to hand them out practically for free in the 1940s and 50s.
I’m not up in arms about him buying a house. I’m providing him info that suggests he make better financial choices since he is claiming he is nearly underwater.
A $300k cash injection and significantly lower mortgage would most assuredly help with that.
1,000 square feet is 200 smaller than my 2-bedroom condo so I doubt downsizing on a starter home makes any sense
A house that costs over half a million dollars is not a starter home by any definition.
Actually, such a home where I live would be impossible to purchase at half a million dollars. In Seattle, a half million dollar home is a steal, a bargain, a robbery, a theft.
Where I live, across the border, a half million dollars gets you a one-bedroom condo at about 600-800 square feet. A million gets you a townhouse. $2-3 million gets you a house, in the suburbs.
Everett WA is 40 min from Seattle
https://www.zillow.com/everett-wa/under-250000/
Solved your problem.
“In Seattle” is not 40 minutes from Seattle, is it?
I don’t have enough money to live on the moon, so I don’t live on the moon.
Shocking.
I don’t even know what point you’re trying to make. The person purchased a starter house at a pricepoint they were approved for. Maybe they don’t want a 40 minute commute to Seattle. Why are so up in arms about somebody buying a house? They used to hand them out practically for free in the 1940s and 50s.
I’m not up in arms about him buying a house. I’m providing him info that suggests he make better financial choices since he is claiming he is nearly underwater.
A $300k cash injection and significantly lower mortgage would most assuredly help with that.