And are house poor

Apr 24, 2024
10:39:09am

Himni Redshirt Freshman

And are house poor

Understand many have no choice, but if you're spending >35%, you'll probably feel constrained on a lot of other spending.

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Himni

Bio page: Himni
Joined: May 19, 2023
Last login: May 17, 2024
Total posts: 194 (0 FO)

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Messages

Author

Time

$133,886

rad dawg

Apr 24, 9:50am

TNT is so grateful he moved away from there

TNT

Apr 24, 9:51am

Not as grateful as a lot of us.

Gunga Galunga

Apr 24, 9:52am

RE: Not as grateful as a lot of us.

TNT

Apr 24, 9:53am

It's pretty wild watching it unfold from afar.

rad dawg

Apr 24, 9:53am

Isn't the avg household income like $80k in Utah?

Cougar TD

Apr 24, 9:52am

There are probably many young people living in apartments

Belboz

Apr 24, 9:55am

I should clarify. Housing is too expensive, but incomes of young people increase

Belboz

Apr 24, 9:57am

Even higher income requirements for tithe payers.

Zach Morris

Apr 24, 9:56am

Earning a bunch of money and spending it on rent doesn't qualify as "increase"

dYrtbYkerYder

Apr 24, 10:06am

So your net calculation includes subtraction of housing costs?

YIsForBrigham

Apr 24, 10:17am

I know several people who take that position.

Ozymandias

Apr 24, 10:36am

I wouldn't if I were paying rent. I don't pay tithing on money we pay to nannies

dYrtbYkerYder

Apr 24, 11:12am

Do you pay tithing on money you pay for restaurants, doctors, uber, flights, etc?

YIsForBrigham

Apr 24, 11:14am

Do you pay tithing on the portion of health insurance your employer pays? How

Ozymandias

Apr 24, 11:29am

I know a person who subtracts medical expenses from income.

dratax

Apr 24, 12:15pm

Maybe people who make less than that should get a smaller home then?

ochobeeguy

Apr 24, 9:56am

It's Utah. The smallest home is 4000 sq ft

TNT

Apr 24, 9:58am

That's a lot of cardboard...

enigomo

Apr 24, 10:01am

And the corrugated is even more. Ugh. What a mess

TNT

Apr 24, 10:02am

You haven't been to Herriman…

ochobeeguy

Apr 24, 10:02am

My 1050 Sq ft home in Kaysville sold for 435K on .25acres

SLC-Durham

Apr 24, 10:02am

That's insane.

2FarGone

Apr 24, 10:04am

I'd have killed for a .25 acre starter home 10 years ago

vagabonder

Apr 24, 10:08am

RE: I'd have killed for a .25 acre starter home 10 years ago

Belboz

Apr 24, 10:10am

The problem being the amount of available homes that cost less than the median

vagabonder

Apr 24, 10:06am

Knowledge on this issue isn't an area of strength for you, we can conclude

Mitty

Apr 24, 10:40am

You seem like someone who's greatest financial accomplishment...

Shore10

Apr 25, 1:39pm

Whats the median home price for Northern Utah?

OmahaOmaha

Apr 24, 9:56am

It’s ok though everyone should just have more kids anyway

DKN

Apr 24, 9:57am

RE: It’s ok though everyone should just have more kids anyway

Bar7h

Apr 24, 10:10am

The 28% figure is a little antiquated

CougarGregor

Apr 24, 9:58am

Will be higher going forward

TNT

Apr 24, 9:58am

If that is the case, we are screwed.

2FarGone

Apr 24, 10:02am

Board name checks out

CougarScrub

Apr 25, 8:41am

With rising costs of everything that figure is probably more relevant than ever

SLC-Durham

Apr 24, 10:08am

And are house poor

Himni

Apr 24, 10:39am

With FHA/VA financing options, typical down payments can be much less than 20%.

LifeLongLakerFan

Apr 24, 9:59am

I was able to get a conventional with only 5% down

BlueKoolaid13

Apr 24, 10:08am

It's okay for dual income households. It's terrible for everyone else.

Belboz

Apr 24, 9:59am

RE: It's okay for dual income households. It's terrible for everyone else.

Division Bell

Apr 24, 10:00am

Hey like Three's Company

TNT

Apr 24, 10:01am

find two chicks living together and crash in their bathtub one night

Belboz

Apr 24, 10:01am

Seems pretty expensive everywhere except the Midwest. I don't like it but it isn't just Utah. If you want to live

Bar7h

Apr 24, 10:03am

The Southeast is also cheap and it's much nicer than the Midwest.

dYrtbYkerYder

Apr 24, 10:07am

El Paso area looks great. Homes are like half of Utah's prices.

BlueFever

Apr 24, 10:12am

And they all have bars on their windows

WorfoSAUR

Apr 24, 10:19am

There have to be decent areas that still have good prices for homes.

BlueFever

Apr 24, 10:34am

People who say this are not doing their due diligence.

rad dawg

Apr 24, 12:46pm

While it isn’t just Utah, it is a disproportionate problem with Utah when considering several factors like median income

Zach Morris

Apr 24, 10:11am

You summarized that well

TNT

Apr 24, 10:22am

I agree that it's worse in Utah. I've been trying to talk my wife into moving to MT, ID, or WY for years. I browse

Bar7h

Apr 24, 10:37am

I agree with you but think about how crazy that sounds.

rad dawg

Apr 24, 10:15am

Utah is getting worse than anywhere in terms of speed of price hikes, leading

Mitty

Apr 24, 10:43am

And rent for your average 2-3 bedroom place is around 2k

Elrond Hubbard

Apr 24, 10:08am

I'm renting a townhouse right now

WorfoSAUR

Apr 24, 10:28am

The younger generations will need to move to Iowa or Alabama.

2FarGone

Apr 24, 10:09am

Sure if you can maintain a high income there.

rad dawg

Apr 24, 10:21am

Commerce will increase in those areas as population shifts happen

kotacoug

Apr 24, 10:32am

Then prices go up.

rad dawg

Apr 24, 11:06am

Alabama is awesome.

dYrtbYkerYder

Apr 24, 10:31am

North Alabama is a great place for young LDS families

YIsForBrigham

Apr 24, 10:38am

dang

Avery

Apr 24, 10:12am

Just heard of a 1200SF home on Coronado Island (San Diego) renting for $8k/month

Mitty

Apr 24, 10:44am

The home we bought in NC: $275K, little over 2K Sq ft, and on 1.15 arces lot

ral1988

Apr 24, 11:05am

It's going to get a lot worse.

Shore10

Apr 24, 1:09pm

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