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Jul 30, 2020
10:57
:02
pm
Heath Squashwell
All-American
Well, i will at least say that property taxes are waaay lower than Texas
The difference is incredible. Makes the payment much more affordable.
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Heath Squashwell
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Barrio Coug
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Heath Squashwell
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Dec 31, 2015
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Messages
Author
Time
Honest question: How do Utahns afford all these 5-600k+ homes everywhere?
Adwight
7/30/20 10:45pm
All of the above.
Soupie
7/30/20 10:47pm
No one learned their lesson from 2007
Rivers Cuomo
7/30/20 10:49pm
Or did they....
Harbinger
7/31/20 7:09am
TNT is guessing most young couples from Utah
TNT
7/30/20 10:49pm
They overextend but then get bailed out by a rising market. And then once the
JollyGreenGiant
7/30/20 10:49pm
A lot of people bought their home at 160k and sold it for 390k.
Future_Tacos
7/30/20 10:50pm
You'd be surprised how much money many people make. There are loads of very well compensated people in Utah.
mulletino
7/30/20 10:51pm
meant more for jollygreengiant etc.
mulletino
7/30/20 10:52pm
My neighbor is a custom builder, they only do million plus houses now, mostly
Nat Gas Man
7/30/20 11:25pm
Rolling equity from one property to another. My brother is a school teacher and
byubyu
7/30/20 10:52pm
I was a year too late. Got our first place that we could barely afford
Adwight
7/30/20 10:55pm
I don’t really understand how the rolling equity thing works.
stenso
7/30/20 11:09pm
Sometimes you don’t have any fees and if you get a bump in income the rolling
Nat Gas Man
7/30/20 11:17pm
It helps to go from 1 30 year mortgage to another after paying for 5-10 years
cougaman
7/30/20 11:18pm
That makes sense. You’re applying the equity you’ve paid into the loan. However,
stenso
7/30/20 11:33pm
Equity rises, so you can put 20 % into a larger home. You get rid of PMI, salary
cougaman
7/31/20 12:03am
What if your home value rose a ton and then you buy a new home with that equity with a 3.0% rate instead of 4.5%?
mulletino
7/30/20 11:18pm
Find someone to overpay for your home and then find a good deal. Not always as
byubyu
7/30/20 11:45pm
Here is my home buying history as an example...
Fdnman
7/31/20 6:26am
Yeah, except you don’t pay a 550k 15 yr mortgage without really good income
Nakedbootleg
7/31/20 9:49am
True...though I have 10 years paid down on mortgage so it was quite a bit lower
Fdnman
7/31/20 10:10am
If you are taking out a new 30 year mortgage every time...
OPINIONS
7/31/20 9:15am
Mormon Mafia Money.
BYUtka
7/30/20 10:54pm
That’s only in Virginia
Nat Gas Man
7/30/20 10:55pm
How do I get in on this?
Harbinger
7/31/20 7:11am
Move to VA get a job with the Federal Government live in McLean
Nat Gas Man
7/31/20 10:21am
Well, i will at least say that property taxes are waaay lower than Texas
Heath Squashwell
7/30/20 10:57pm
Lower income taxes help offset that
nephicoug
7/30/20 10:58pm
That’s the theory but we’re paying way less overall in Utah
Heath Squashwell
7/31/20 7:43am
The math doesn’t work out In Utah’s favor
GulfCoastcoug
7/31/20 7:55am
Depends on your income I guess. For me the math works out way better.
Heath Squashwell
7/31/20 11:24am
Here in Oregon we have high income tax And property tax, So win win for us...
cougaman
7/30/20 11:09pm
Correct answer is Yes
NorCal_Coug
7/30/20 10:57pm
A lot of the people in my neighborhood have turned their basements into
Nuke
7/30/20 11:08pm
This is my street. Not because they need help with the mortgage, but rather the
Nat Gas Man
7/31/20 12:23am
Reminds me of this commercial
machete
7/30/20 11:11pm
A lot of tech jobs in the state don’t even pay that. Utah severely under pays
YIsForBrigham
7/30/20 11:21pm
California migration in my once small town.
Nakedbootleg
7/30/20 11:28pm
For years the joke in Utah was “Welcome to my Big House, sorry there isn’t any
Nat Gas Man
7/30/20 11:32pm
Some can afford it, some can't, but still have it
jhingman
7/30/20 11:50pm
Or is it Cali people who hate Utah moving in?
StalwartBraveTrue
7/31/20 12:00am
Here in Calif. I know several people who got big “help” from parents for down
byu1
7/31/20 1:26am
Also in California, also bitter.
JuicyJam
7/31/20 7:11am
I just don’t get how many qualify for loans
cougfanz
7/31/20 4:35am
I know there's concern in the church about how few senior couples are
Gustav
7/31/20 6:06am
top 5, in the order (order is my own informed guess)
Linescratcher
7/31/20 6:24am
This post is spot on
homegrown
7/31/20 7:37am
Two incomes is a big part of it.
Belboz
7/31/20 8:35am
But doesn't Utah have lower percentage of dual income households?
Gustav
7/31/20 8:44am
If you think Utah is bad, imagine growing up in the Bay Area in the 70s/80s/90s.
Mitty
7/31/20 11:53am
Buy in a highly desirable location 16 years ago for a laughable amount
A_blue_car
7/31/20 11:57am
The latter I expect
jkccoug
7/31/20 2:55pm
Down payment is high from selling a house elsewhere.
abyunobody
7/31/20 10:21pm
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