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I THINK THAT PEOPLE SHOULD ONLY

BE ABLE TO BUY A HOUSE THAT COST THEM SAME AS THERE ANNUAL INCOME?!DO YOU AGREE?

 
Anonymous

Asked by Anonymous at 9:43 AM on Apr. 28, 2009 in Just for Fun

This question is closed.
Answers (13)
  • that should be a 'no brainer' and just 'common sense', but sadly it isn't....
    VeronicaLee

    Answer by VeronicaLee at 9:46 AM on Apr. 28, 2009

  • They don't make houses in the lower income brackets let alone houses for those who use welfare as their income. Some people only make 20,000 a year plus the upkeep on a house and cars would take all their money. The cheaper the house the more problems so they would be working only to pay for the crap house they live in. If they can afford it why can't they have the house they want??? Your not paying the bill are you?
    brailynsmama08

    Answer by brailynsmama08 at 9:47 AM on Apr. 28, 2009

  • PEOPLE GET IN OVER THERE HEADS ,AND THINK THEY CAN GET ANYTHING AND EVERYTHING THEY WANT .....AND PEOPLE WHO ONLY MAKE 20,000 DOLLARS A YEAR CAN BUY A TRAILER AND A NICE ONE AT THAT! WERE NOT PAYING THE BILL , BUT NEITHER ARE THEY , THAT'S WHY WE HAVE SO MANY FORECLOSED HOMES ...BECAUSE PEOPLE GOT IN OVER THERE HEADS!

    ELIZABETHSMO902

    Answer by ELIZABETHSMO902 at 9:56 AM on Apr. 28, 2009

  • Well, then I guess we'll be living in apartments the rest of our lives. My husband only makes 35k a year and we're a family of 6 (soon to be 7). We get buy okay but you can't even buy a shack for that around here. The average 3 bedroom house is 250k. Nobody I know makes that much money.
    justanotherjen

    Answer by justanotherjen at 10:00 AM on Apr. 28, 2009

  • I thought it was like 30% of your total income. I don't think if more than 30% of your total income goes to your mortgage that they will even let you get the loan for the house. I know they did and those why so many homes went into foreclosure and the economy is total shit.

    legalmommy101

    Answer by legalmommy101 at 10:01 AM on Apr. 28, 2009

  • I misread the Question.... I don't know anyone that lives in a house that is the same price as one year's income.


    Where I live, $80,000 will only buy you a mobile home on an acre or so of land. An older 3/2 house with a postage stamp piece of property starts at 100k and that is only if it needs a LOT of work to get it fixed back up!


    So.... if OP means that the house shouldn't cost more than One Year's income, then NO I don't agree.

    VeronicaLee

    Answer by VeronicaLee at 10:06 AM on Apr. 28, 2009

  • There are mobile homes for 35,000.00 I would think pretty decent ones.. Although with ins rates, I don't know how high it would be considering that mobile homes are pretty dangerous to live in.
    I don't see the logic in having so many children on such a small income.. When Hubby and I got married we decided not to have more children, I already had 3 and he has none.. But with the way to economy is and the size of our home (3bed2bath) we didn't want to make anyone uncomfortable. It's bad enough our 2 youngest have to share a room...
    We have a good income and it far exceeds what we bought our house for,at least double, enough to support more children but for fear that Hubby's job takes a nose dive we aren't going to chance it.. We want our kids to have a comfortable life..
    4x4mum

    Answer by 4x4mum at 10:16 AM on Apr. 28, 2009

  • If that were the rule my husband and I never would have qualified for our first house or our second. Just because you buy a house that some think you can't afford, doesn't mean you are going to default on your loan. My husband and I worked our asses off to get our houses as I'm sure plenty of people do the same and we would and will do anything to make sure our mortgage gets paid.
    GMR

    Answer by GMR at 10:19 AM on Apr. 28, 2009

  • And what about those who could easily afford their homes at the time they bought them and then lost their jobs? Your theory doesn't hold water sorry. Not too mention, who are we to keep someone down? Furthermore, why would you want too? I think people would do better minding their own business and taking care of themselves rather than trying to dictate what others can and cannot or should or should't have or do.
    salexander

    Answer by salexander at 10:19 AM on Apr. 28, 2009

  • Thats ridiculous. The average income for a family is 4 is about $40k. That won't buy you sh** even in the mts of north ga. A small home with 1200 sq ft costs about $120k and in the LA area or NY area, youre talking twice that, if not more. THe average formula is 1/4 of your monthly income put towards mortgage. No more. So if we make $4000k a mo, then our house should be no more than $1000 a mo. (which is exactly what it is)
    momofsaee

    Answer by momofsaee at 10:24 AM on Apr. 28, 2009