People shouldn't be able to borrow that much. I think retirement and college savings needs to be factored in. I think it should with car purchases also.Has something changed in the 42% debt to income calculation?
People shouldn't be able to borrow that much. I think retirement and college savings needs to be factored in. I think it should with car purchases also.
it’s none of my business until we get people pushing free college, free daycare, ect. You want to dip into my pocketbook with more taxes for those that refuse to save than you also invite me to give to audit your choices.
And I'm OK with that.
I still think Iowa may still see a little bit of the over bidding. My realtor said it's younger kids from Minneapolis and Chicago whose parents' money goes farther here. With a remote workforce, people are moving away from urban areas.
Rented for 7 years? That’s lost equity
Curious, what is your net worth?LMAO!!! Lost equity?
Housing prices DROPPED considerably during that time. I waited it out until I saw the market stabilize. If I'd bought in 2006 when I moved, I would have seen basically no appreciation in value during that 7+ years of ownership and been "locked in", in an underwater loan for the better part of a decade.
Renting was cheaper, inclusive of any tax writeoffs.
The market will not drop in the Iowa City area(I'm in NL). It may stabilize but just like the last bubble it won't drop. There is too much turnover in housing with the University. It's almost like an insulation to those things.This is the point. The bubble is getting bigger, but about to pop. These people are about to get burned on deals like these.
And, the Midwest is usually the last to get hit by the trend.