Comments on: Housing Affordability: This Isn’t Normal https://clippingchains.com/2021/07/26/housing-affordability/ Funding the Adventurous Life Wed, 04 Aug 2021 21:21:23 +0000 hourly 1 https://wordpress.org/?v=7.1.3 By: Mr. Clipping Chains https://clippingchains.com/2021/07/26/housing-affordability/#comment-1970 Wed, 04 Aug 2021 21:21:23 +0000 https://clippingchains.com/?p=7480#comment-1970 In reply to Josh C..

Yeah man, I think this kind of exception to the 3x rule is very acceptable. Of course, this assumes you have a high tolerance for roommates! Given the tight rental market, so long as you are willing to live with others, you will (likely) enjoy the benefits of low to zero housing costs! Well done!

]]> By: Josh C. https://clippingchains.com/2021/07/26/housing-affordability/#comment-1969 Wed, 04 Aug 2021 20:06:50 +0000 https://clippingchains.com/?p=7480#comment-1969 After buying a house this year, I fall in line with every other idiot in America (actually worse at a 5.12 ratio)…but the difference for me is that I wasn’t willing to buy unless I could find a house that met my “hacking” criteria. I opted for a larger house with more bedrooms, so I could increase my rental income. I also miraculously got my house at listing price with no other offers being made on the house. I live with four roommates, so I am actually very close to breaking even (my monthly housing expenses are now closer to zero than they’ve ever been). This of course does not take into consideration my up front costs of buying the house and home improvements necessary in order to get the house move in ready, but, after owning for a while and assuming I can maintain a similar rental income, I should start to see the benefits of little to no housing costs. That second caveat does concern me from time to time, but I think it’s a risk I’m willing to take. I also think if I want to sell in 5-10 years, I will probably be ok, considering we will probably see a steady increase in the value of home prices, especially in the market I live in. I may not see the same returns I would get in the stock market over that time frame, but I think it’s worth it for me to own a home all things considered.

]]> By: Mr. Clipping Chains https://clippingchains.com/2021/07/26/housing-affordability/#comment-1962 Mon, 26 Jul 2021 23:39:47 +0000 https://clippingchains.com/?p=7480#comment-1962 In reply to Accidentally Retired.

Thank you! I’m lost on your final point…what do you hope to accomplish by realizing paper gains?

]]> By: Accidentally Retired https://clippingchains.com/2021/07/26/housing-affordability/#comment-1961 Mon, 26 Jul 2021 22:03:45 +0000 https://clippingchains.com/?p=7480#comment-1961 Great article on housing costs. Actually, one of the most thorough I have seen. Americans continue to take on more housing debt, and will continue to make bonehead moves like refinancing a 30 year mortgage 10 years in and starting their high interest periods all over again.

Even so, it seems like the housing crunch is here to say, so maybe I’ll start to creep up my net worth a tad now by realizing some paper gains?

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