'Doubt and hesitation' are ripping through the housing market: 'People are starting their home search, then backing out'
'Doubt and hesitation' are ripping through the housing market: 'People are starting their home search, then backing out'
Well I am just shocked, SHOCKED I say! Well...not that shocked
who's got 5 digits in the bank for a down payment? let alone a bank that will approve a loan for the only "affordable" house which is affordable because it's falling apart?
Five digits? Where you getting housing that it only takes five digits for a down payment?
hint: the population is ~3000 and we have confederate statues
Uh, even in more expensive areas $100k down payment seems a little insane
$100k is 20% of a $500k house. 20% is the traditionally "normal" amount, and $500k is a pretty average price in big cities these days...
I don't think most people are putting 20% down anymore tbh. Especially not in those places
A lot of people put down 10-15% and pay the PMI. That's what we had to do.
Or 3.5% with an FHA loan (if that's still a thing?).
100k is 6 digits
Right, the comment I'm replying to is saying that 5 digits wouldn't be enough
No it isn't. It says "who has that?", and "what bank would approve the loan for the falling apart shack that would buy"
Srsly
My dad bought a house for 5k the other day. He so excited goimg around looking for more. The house should of been torned down and the town has zero jobs. But it bound and determined to gst us all to move there. "So cheap" there reason for that.