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Looking at a 1.1M mortgage, my life is about to be over
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Date: July 19th, 2019 12:35 PM Author: Maroon bonkers school cafeteria turdskin 500K HHI for at least the next several years, but we're going to be cash poor as FUCK to get this down payment
Life is easy right now. If I lost my job or quit, whatever. But once the BANKS own me, I cannot. |
Date: July 19th, 2019 12:36 PM Author: nubile stage hunting ground Then don't sign up for a $1.1M mortgage. It's really that simple. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556658) |
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Date: July 19th, 2019 12:42 PM Author: Lime exciting menage (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556695) |
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Date: July 19th, 2019 12:57 PM Author: insanely creepy tanning salon dysfunction (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556802) |
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Date: July 19th, 2019 1:05 PM Author: Maroon bonkers school cafeteria turdskin It's a reasonable home with good schools. If I want to pay less, the schools are DINDU THUNDERDOME level bad. And then it's private school tuition, K-12 x2. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556855) |
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Date: July 19th, 2019 1:07 PM Author: Khaki misunderstood theater stage Then rent somewhere decent and move before you buy. You have to realize that you have a great HHI but will still be poor if you do this. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556868) |
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Date: July 19th, 2019 1:10 PM Author: Startled Brethren Dumbass, if he has a $500k HHI he could pay that mortgage off in just 2 years. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556879) |
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Date: July 19th, 2019 1:13 PM Author: Khaki misunderstood theater stage Lulz. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556896) |
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Date: July 19th, 2019 1:51 PM Author: dark arousing wrinkle office you forgot about the .1 (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557106) |
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Date: July 19th, 2019 2:02 PM Author: Gaped Legend (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557168) |
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Date: July 19th, 2019 2:30 PM Author: Awkward mischievous cruise ship hairy legs (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557296) |
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Date: July 19th, 2019 3:53 PM Author: mint thriller stage persian (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557655) |
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Date: July 19th, 2019 10:02 PM Author: Dun boltzmann (Tax masterman) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559157) |
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Date: July 19th, 2019 2:04 PM Author: nubile stage hunting ground Then go rent. No one is forcing you to BUY a home and commit to 30 years of debt. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557178) |
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Date: July 19th, 2019 3:10 PM Author: fishy nighttime goyim Then don't have kids. It's really that simple. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557486) |
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Date: July 19th, 2019 1:05 PM Author: Khaki misunderstood theater stage (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556857) |
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Date: July 19th, 2019 1:19 PM Author: Frum Excitant Fanboi Kitty Cat (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556931) |
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Date: July 19th, 2019 12:36 PM Author: big parlour international law enforcement agency This is the moment it all goes down hill. Just wait for the creeping expenses of home ownership. Then there’s the costs that come with kids. Oh yeah, and all of that cash you’re about to tie up in a fucking house you can’t touch or use. Good luck. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556660) |
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Date: July 19th, 2019 12:37 PM Author: Exhilarant Pearl Boiling Water stfu. 500k is more than fine for 1mm loan.
edit: he specifies below that hes biglaw, so its dumb as shit. I assumed that it was two people with real jobs.
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Date: July 19th, 2019 1:06 PM Author: Khaki misunderstood theater stage Hehe (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556860) |
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Date: July 19th, 2019 3:11 PM Author: fishy nighttime goyim yeah if they make 500k/yr for the rest of their lives that's not a problem, but there's usually volatility in jobs that pay like that. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557495) |
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Date: July 19th, 2019 12:37 PM Author: henna national tattoo With 500k income how could you possibly struggle to make a ~200k downpayment? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556667) |
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Date: July 19th, 2019 12:38 PM Author: Infuriating unhinged giraffe (math masterman) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556674) |
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Date: July 19th, 2019 3:11 PM Author: fishy nighttime goyim perhaps they had student loans to pay off? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557499) |
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Date: July 19th, 2019 5:06 PM Author: bistre overrated hospital Bernie is forgiving all of those. Why would you pay them off? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557941) |
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Date: July 19th, 2019 12:37 PM Author: Vibrant Hell What's your rent? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556670) |
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Date: July 19th, 2019 12:41 PM Author: zippy telephone police squad ttiwwop (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556689) |
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Date: July 19th, 2019 12:42 PM Author: Hideous Idiot on the plus side, it should make your employer like you a bit more, knowing that you have a mortgage to pay and will be more motivated to work hard (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556694) |
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Date: July 19th, 2019 12:43 PM Author: Titillating corner For that price I hope you're at least buying some McMansion monstrosity with turrets and game rooms and gaudy finishes and not some 1800 square foot Silicon Valley ranch home: https://www.zillow.com/homedetails/6326-Sevilla-Way-San-Antonio-TX-78257/118215499_zpid/ (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556700) |
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Date: July 19th, 2019 12:43 PM Author: Vibrant Hell *vomits* (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556703) |
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Date: July 19th, 2019 12:45 PM Author: Titillating corner *tows financed boat to lake in leased Escalade* (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556709) |
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Date: July 19th, 2019 1:20 PM Author: Frum Excitant Fanboi Kitty Cat lol @ this photoshop hack job (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556942) |
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Date: July 19th, 2019 2:21 PM Author: Bespoke nursing home gaudy mcmansions featuring architectural/intdeco mismatches are actually good in a very pomo bricolage way (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557251) |
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Date: July 19th, 2019 3:12 PM Author: fishy nighttime goyim look how disgustingly close that house is to its neighbor. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557502) |
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Date: July 19th, 2019 4:37 PM Author: dark arousing wrinkle office lol at 4800 sq ft being a "mcmansion" (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557804) |
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Date: July 19th, 2019 4:38 PM Author: Khaki misunderstood theater stage ? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557811) |
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Date: July 19th, 2019 5:07 PM Author: dark arousing wrinkle office 4800 ft is a regular nice sized non-shithole house, not a mansion (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557945) |
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Date: July 19th, 2019 5:09 PM Author: Khaki misunderstood theater stage "400lbs isn't obese, it is normal sized where I live" (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557961) |
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Date: July 19th, 2019 5:17 PM Author: dark arousing wrinkle office dumb comparison. 4000-5000 is about the size where you can be reasonably comfortable with a family. saying that as someone who owns a 3000 ft home (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558010) |
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Date: July 19th, 2019 5:17 PM Author: Khaki misunderstood theater stage I have like 2800sq ft and it is fine. Can't imagine almost double. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558013) |
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Date: July 19th, 2019 5:20 PM Author: dark arousing wrinkle office add three kids and get back to me (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558028) |
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Date: July 19th, 2019 5:21 PM Author: Khaki misunderstood theater stage You can't have 3 kids in the NE. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558034) |
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Date: July 19th, 2019 9:35 PM Author: dark arousing wrinkle office Wrong. Actually everyone does now (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559044) |
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Date: July 19th, 2019 6:14 PM Author: irradiated sienna private investor dilemma Lmao at the first picture showing the neighbor's house almost touching. And the lack of any yard. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558264) |
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Date: July 19th, 2019 11:53 PM Author: ungodly chad set lmao the Dominion is the neighborhood for all the new money in San Antonio and it shows (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559593) |
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Date: July 19th, 2019 12:44 PM Author: histrionic nofapping sex offender lol, ITE2 is around the corner, pepper angus (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556706) |
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Date: July 19th, 2019 12:46 PM Author: Lime exciting menage is it really? been hearing this for like 10 years now. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556717) |
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Date: July 19th, 2019 12:55 PM Author: Cheese-eating Meetinghouse Any day now (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556787) |
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Date: July 19th, 2019 12:56 PM Author: Lime exciting menage MicroSoft just reported record revenue, bro (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556794) |
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Date: July 19th, 2019 1:04 PM Author: insanely creepy tanning salon dysfunction OH WHAT A BELLWETHER (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556851) |
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Date: July 19th, 2019 1:09 PM Author: Khaki misunderstood theater stage 10 years ago was 2009. ITE was just starting. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556875) |
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Date: July 19th, 2019 5:28 PM Author: Iridescent Motley Garrison ITE started summer 2018. It all dates to the Lehman Bros. collapse. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558064) |
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Date: July 19th, 2019 5:37 PM Author: Khaki misunderstood theater stage You mean 2008? Ok, fair enough, second half of 2008. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558093) |
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Date: July 19th, 2019 5:40 PM Author: Iridescent Motley Garrison Yup (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558101) |
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Date: July 19th, 2019 1:07 PM Author: violent party of the first part temple (Julia) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556864) |
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Date: July 19th, 2019 1:20 PM Author: Cordovan marvelous home elastic band (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556947) |
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Date: July 19th, 2019 10:12 PM Author: Dun boltzmann Only property values will go do 50% or so this time instead of only 30% in 2009. Good luck with your $500k underwater mortgage brother. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559205) |
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Date: July 19th, 2019 12:56 PM Author: Ebony prole kitchen ljl at not RENTING (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556799) |
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Date: July 19th, 2019 12:57 PM Author: insanely creepy tanning salon dysfunction It's a great time to buy! (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556804) |
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Date: July 19th, 2019 10:12 PM Author: Dun boltzmann Always! (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559207) |
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Date: July 19th, 2019 1:05 PM Author: Khaki misunderstood theater stage This seems like a really dumbass thing to do. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556859) |
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Date: July 19th, 2019 1:15 PM Author: Maroon bonkers school cafeteria turdskin explain (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556911) |
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Date: July 19th, 2019 2:01 PM Author: Khaki misunderstood theater stage Having a high HHI and then being house poor is an incredibly stupid way to live. Plus, it is an HHI which inherently has instability. Being in a place where if someone loses their job ITE2 that you're fucked is incredibly dumb.
EDIT: Also, this is how people got superfucked ITE. They had a solid 2 earner household and bought to their max. Sure, they made their payments and all was manageable. Then ITE hit and they lost their jobs. 5 years into a 30 year mortgage or something like that, so they've been mostly paying interest. And house values tank, so now they're underwater. Can't sell the house, can't make the payments, any jobs they can get require that they move. Now what? |
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Date: July 19th, 2019 2:45 PM Author: swashbuckling depressive Have you seen current mortgage rates? If you work for biglaw or bigcorp you can probably get 3.3% on 15% down. If you own in a big city, your mortgage will be much less than you'd be paying for rent. If you can't afford it, rent the house out, move to SHAKER HEIGHTS and live on the 12k a year you profit. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557382) |
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Date: July 19th, 2019 2:48 PM Author: Khaki misunderstood theater stage If you work biglaw then you should be trying to figure out what you're doing to do after biglaw.
And nothing is more prole than "omg, the amount of money I have to pay in interest is relatively low, so I should spend way more on this house than I should!" No. Houses on the coasts have a ton in property taxes and all houses have maintenance, upkeep, etc. Your mortgage will absolutely not be less than rent and you'll be accepting massive risk. |
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Date: July 19th, 2019 3:02 PM Author: swashbuckling depressive You haven't done the math, apparently. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557454) |
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Date: July 19th, 2019 3:25 PM Author: Tan library shut up, kiketard (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557565) |
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Date: July 19th, 2019 3:48 PM Author: swashbuckling depressive Or, instead, I could put 200k down on a 1.1 million dollar house, pay 4k a month mortgage, 700 a month in property taxes, and then, if necessary, rent it out in five years for 5k+ a month.
Oh, and, because rent on a house like that is 5k, and the marginal tax rate for someone making 500k is 35%, I would actually be saving another $700 or so a month because I'd be paying $2600 in interest, of which about 75% is tax deductible. |
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Date: July 19th, 2019 4:34 PM Author: Khaki misunderstood theater stage A more realistic calculation: https://www.zillow.com/mortgage-calculator/ (I get $5637/month, and your tax calculation and theirs are really low - around NYC there's no way you're going to get that low of a rate). That's not including what you'll pay to maintain the place, utilities, etc. And that's a $1.1 million house, not a $1.1 million mortgage. Even that's a terrible idea.
Protip: during the next ITE none of that will pan out the way you think. No one will rent it for $5k and if someone loses a job you're going to be fucked.
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Date: July 19th, 2019 5:58 PM Author: swashbuckling depressive I agree the next ITE would be a PITA but what I don't get is why you think it will be easier to rent a house. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558184) |
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Date: July 19th, 2019 6:03 PM Author: Khaki misunderstood theater stage It is easier to downsize, relocate, etc. when you're renting than when you own. I get that for now rental prices are high, but so are sale prices. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558210) |
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Date: July 19th, 2019 6:04 PM Author: domesticated cracking toilet seat center yeah but if ITE does not hit in the next two years his mortgage payments could very well be less than anything he could rent comparably.
I bought my condo 5 years ago and it would now cost $1000 more to rent it than my mortgage payment, principal and interest. |
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Date: July 19th, 2019 6:05 PM Author: lascivious frisky sanctuary thanks to chinese buyers...who are now leaving the US in droves
cant wait until the markets tank |
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Date: July 19th, 2019 6:07 PM Author: domesticated cracking toilet seat center cr fuck the money laundering chinks. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558228) |
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Date: July 19th, 2019 6:08 PM Author: Khaki misunderstood theater stage You say that but this is also one of the main culprits for the boom. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558238) |
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Date: July 19th, 2019 10:16 PM Author: Dun boltzmann Who else is gunna buy your condo dude? Lolz (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559227) |
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Date: July 19th, 2019 6:06 PM Author: Khaki misunderstood theater stage Yeah, but LA hasn't been a typical market. It has absolutely exploded. I wouldn't assume that is a) universal or b) will continue. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558227) |
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Date: July 19th, 2019 6:53 PM Author: heady bawdyhouse Who pays $5k a month to rent a house? That shit is ridiculous (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558397) |
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Date: July 19th, 2019 7:37 PM Author: swashbuckling depressive Have you tried renting a house in Brooklyn? What do you think the people paying 4k a month in Manhattan do when they have they're second kid? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558544) |
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Date: July 19th, 2019 10:07 PM Author: heady bawdyhouse Jfc. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559179) |
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Date: July 20th, 2019 12:57 AM Author: Khaki misunderstood theater stage Don't live in Brooklyn, retard. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559780) |
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Date: July 20th, 2019 9:40 AM Author: dark arousing wrinkle office Lol you stupid faggot (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560341) |
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Date: July 19th, 2019 3:11 PM Author: Sable Boyish House Psychic Now what? In a non-recourse state, you skip off into the sunset and let the bank take the house back. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557494) |
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Date: July 19th, 2019 3:52 PM Author: swashbuckling depressive There are like five non recourse states though, right? More likely, you work out a short sale and the bank agrees to forgive the debt. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557653) |
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Date: July 19th, 2019 5:09 PM Author: Khaki misunderstood theater stage https://www.legalmatch.com/law-library/article/what-is-a-recourse-state.html
A bunch of us don't live in a non-recourse state. I don't, for example. |
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Date: July 19th, 2019 1:08 PM Author: Aromatic pink jewess Rich boi no more (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556869) |
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Date: July 19th, 2019 1:08 PM Author: Copper Coiffed Parlor Shitlib lol jfc (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556872) |
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Date: July 19th, 2019 1:13 PM Author: anal wild rehab I don't really see the big deal. 500k income, $1.4M house is doable. I wouldn't do it because i like SAVING, but its doable. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556897) |
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Date: July 19th, 2019 1:15 PM Author: dashing institution (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38556915) |
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Date: July 19th, 2019 1:55 PM Author: Infuriating unhinged giraffe also depends on what his other expenses are.
if he's frugal and his other expenses are low it's nbd. if he spends a ton than it's a problem. |
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Date: July 19th, 2019 2:02 PM Author: Khaki misunderstood theater stage Doable as in if nothing changes (no one ever loses a job, has to take a lower-paying job, they budget all the time, etc.) they will not lose the house? Yes.
But it is still dumb. |
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Date: July 19th, 2019 3:15 PM Author: fishy nighttime goyim doable if the income is stable but OP alluded to the fact that it's only stable for a few years. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557511) |
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Date: July 19th, 2019 1:52 PM Author: dark arousing wrinkle office at $500K you can afford a $1.4M house. stop being a little bitch. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557113) |
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Date: July 19th, 2019 2:03 PM Author: Khaki misunderstood theater stage (guy selling $1.4M house) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557175) |
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Date: July 19th, 2019 2:27 PM Author: useless soul-stirring range I audibly laughed at this (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557282) |
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Date: July 19th, 2019 3:17 PM Author: maniacal painfully honest coffee pot (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557526) |
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Date: July 19th, 2019 9:44 PM Author: Awkward mischievous cruise ship hairy legs (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559072) |
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Date: July 20th, 2019 12:07 AM Author: cerebral twinkling uncleanness factory reset button (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559653) |
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Date: July 19th, 2019 1:56 PM Author: Light Market In general I'd say your HHI makes this more than reasonable, however given you will be "cash poor" after buying, this would suggest to me that you either had a huge recent jump up to 500k HHI or your are fiscally irresponsible, in either case it's not as reasonable now (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557135) |
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Date: July 19th, 2019 3:10 PM Author: Maroon bonkers school cafeteria turdskin paid off loans and shit
a 4th year BIGLAW bro and someone making high 100s |
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Date: July 19th, 2019 5:25 PM Author: Trip weed whacker keepsake machete Eeeesh. Biglaw associate even biglaw junior partner seems precarious. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558048) |
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Date: July 19th, 2019 5:39 PM Author: domesticated cracking toilet seat center do 4th years make $330K now? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558097) |
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Date: July 19th, 2019 6:02 PM Author: anal wild rehab 255k salary + 65k if hit their bonus (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558204) |
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Date: July 19th, 2019 6:11 PM Author: domesticated cracking toilet seat center not bad. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558247) |
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Date: July 19th, 2019 8:34 PM Author: Tan library are you a fag? why do you not refer to the sex of your "partner" or call her your wife?
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Date: July 19th, 2019 2:06 PM Author: vivacious jade mad-dog skullcap Seems fine as long 400k+ of that 500k is not coming as an 8th year biglaw associate. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557190) |
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Date: July 19th, 2019 3:11 PM Author: Maroon bonkers school cafeteria turdskin 4th year, now no debt
and high 100s partner = 500K |
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Date: July 19th, 2019 3:45 PM Author: Flushed piazza so u make $350 and ur partner makes $150?
i guess that's okay diversity for the mortgage. as long as it isn't $450k to $50k. |
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Date: July 19th, 2019 6:49 PM Author: vivacious jade mad-dog skullcap Plans? Decent chance you take a pay cut in the next couple years. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558378) |
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Date: July 19th, 2019 2:10 PM Author: wonderful idiotic university regret Go for it. I sure it's not like the only area around with good schools is experiencing PEAK home prices RIGHT NOW before their inevitable fall when all the boomers that have been living there for 30 years decide to all at once move out and drive down prices.
What could go wrong |
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Date: July 19th, 2019 3:17 PM Author: fishy nighttime goyim I keep hearing that good areas will drop because they are overpriced and red states/exurbs will prosper because they are underpriced but since I've been hearing that rich areas keep getting more expensive while poor areas get cheaper (relatively). (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557528) |
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Date: July 19th, 2019 3:51 PM Author: wonderful idiotic university regret Exurbs are done here, they will not prosper. The worry is empty-nesters leaving the good areas en mass and home value dropping when there is an abundance of inventory of homes that have not been updated in 30 years (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557646) |
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Date: July 19th, 2019 3:56 PM Author: zippy telephone police squad Leans into mic
https://www.wsj.com/articles/american-suburbs-swell-again-as-a-new-generation-escapes-the-city-11561992889 |
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Date: July 19th, 2019 11:26 PM Author: wonderful idiotic university regret Got 150 on the lsat, huh. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559512) |
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Date: July 19th, 2019 2:59 PM Author: Cream 180 Casino Going through exactly this right now. Me and marriage track gf have looked at homes. Currently we're at about 550k HHI, with probably about 450k available in cash. But I'm in biglaw, don't anticipate making partner, no idea when the end will come, no idea what's next and if I'll be making close to my current income.
I think that this is the modern problem with millennials buying homes. Just a complete uncertainty of what employment will be in 3 years, let alone 15. |
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Date: July 19th, 2019 3:18 PM Author: fishy nighttime goyim this pretty much sums EVERYTHING up. Boomers fucked us! (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557533) |
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Date: July 19th, 2019 5:27 PM Author: Trip weed whacker keepsake machete Don’t do it until you have more job certainty and housing market is flat or slightly dipping now. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558062) |
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Date: July 19th, 2019 5:41 PM Author: Cream 180 Casino That's pretty much my plan. Hoping to find something in house over the next year or two with some more stability. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558106) |
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Date: July 19th, 2019 3:03 PM Author: Disturbing fortuitous meteor church building lol powergoy you could buy a plot of land and get a state of the art prefab home for half the price (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557460) |
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Date: July 19th, 2019 3:14 PM Author: Sable Boyish House Psychic Yeah, if "prefab" means "manufactured." (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557506) |
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Date: July 19th, 2019 4:00 PM Author: Disturbing fortuitous meteor church building https://www.bluhomes.com/homes-landing/origin-1900 (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557682) |
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Date: July 19th, 2019 9:01 PM Author: Sable Boyish House Psychic Base costs over $200/sf are more expensive than traditional construction. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558877) |
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Date: July 19th, 2019 3:18 PM Author: fishy nighttime goyim yeah a plot of land 2 hours away from his job sure. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557535) |
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Date: July 19th, 2019 3:58 PM Author: Disturbing fortuitous meteor church building buy a teardown house on a good lot (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557673) |
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Date: July 19th, 2019 4:47 PM Author: flirting rose pistol liquid oxygen You'll never get the permits (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557860) |
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Date: July 19th, 2019 4:59 PM Author: Khaki misunderstood theater stage People underestimate how awful dealing with permits is. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557909) |
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Date: July 19th, 2019 8:05 PM Author: vivacious jade mad-dog skullcap (Yankee) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558648) |
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Date: July 19th, 2019 3:04 PM Author: Bespoke nursing home that's nothing, my buddy has that much on 2 mortgages and his HHI is <$250K (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557461) |
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Date: July 19th, 2019 3:21 PM Author: fishy nighttime goyim I don't agree with the ultra risk adverse fags ITT that act like you need to eat ramen out of a studio apartment, however, I think given your HHI, lack of savings, and job uncertainty going forward, the most you should be looking at is a $1m home with a mortgage around 800K.
HOWEVER, this is what you need to do in that situation. You should take the extra money from lower payments and throw it into the house while still saving in your 401k and a side account. You should aim to lower the mortgage as much as possible. Ideally you get a super low rate 5 yr ARM or 10 yr ARM.
If in 2 or 3 years it looks like you will get no breakfast and have to take a major paycut, then you should refinance the mortgage to a fixed 30 year. Presumably you have now paid off several hundred thousand in equity if you are making extra payments. This will substantially lower the monthly payment.
HTH |
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Date: July 19th, 2019 3:55 PM Author: zippy telephone police squad In a non resource state he would be better off minimizing payments and walking away if it doesn’t work (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557666) |
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Date: July 19th, 2019 11:50 PM Author: Dun boltzmann Lulz this sounds like some shit youd hear in 2006. “What’s APR mean?” “Oh, that’s the average person rate. You wont pay that much.” (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559585) |
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Date: July 19th, 2019 3:58 PM Author: zippy telephone police squad Xo 201 is really risk averse (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557672) |
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Date: July 19th, 2019 3:59 PM Author: adventurous grizzly stag film This thread is a POWERGOY festival (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557676) |
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Date: July 19th, 2019 4:48 PM Author: flirting rose pistol liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557864) |
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Date: July 19th, 2019 4:51 PM Author: Khaki misunderstood theater stage "oh you silly goy, why don't you take more debt? It is basically FREE money!" (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557871) |
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Date: July 19th, 2019 4:48 PM Author: flirting rose pistol liquid oxygen Keep renting for a few more years and wait till you can put big money down. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557866) |
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Date: July 19th, 2019 4:54 PM Author: domesticated cracking toilet seat center Lol at TMF's fear in this thread that Mandy will lose her job and half their HHI will evaporate. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557886) |
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Date: July 19th, 2019 4:57 PM Author: Khaki misunderstood theater stage Or I might lose my job. We've both seen it happen. You have too. At our current mortgage, we would be fine if either of us lost our jobs. And we have a rentable basement with a separate entrance.
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Date: July 19th, 2019 5:00 PM Author: domesticated cracking toilet seat center yeah, but you let your wife make almost as much as you... (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557914) |
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Date: July 19th, 2019 5:04 PM Author: Khaki misunderstood theater stage Let? I put in a ton of effort to get her there and continue to help her. And now we have a significant amount of financial security. To give you an idea of how this went, she almost tripled her salary over several years. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557935) |
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Date: July 19th, 2019 5:09 PM Author: domesticated cracking toilet seat center i know. And that's good overall. But now to remain a man you must work harder or get a better job so that you make at least twice what she makes. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557957) |
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Date: July 19th, 2019 5:09 PM Author: zippy telephone police squad (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557958) |
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Date: July 19th, 2019 5:10 PM Author: Lime exciting menage (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557967) |
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Date: July 19th, 2019 5:10 PM Author: Khaki misunderstood theater stage Are you trying to become her divorce lawyer or something? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557972) |
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Date: July 19th, 2019 5:13 PM Author: domesticated cracking toilet seat center i'm just shitting you and you guys both know I love you, but it's just funny that given your relative capabilities, that you are making around the same amount of money. It's good that you aren't sabotaging her career out of insecurity, but you should at least force yourself to make more money out of insecurity. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557995) |
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Date: July 19th, 2019 5:15 PM Author: Khaki misunderstood theater stage ljl. If it makes you feel better I've been gunning for a promotion for years. The problem is that I have the social skills of, well, me. Also, the problem with WFH is that once you get it, giving it up is basically impossible, especially if you're an introverted weirdo. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558000) |
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Date: July 19th, 2019 5:18 PM Author: dark arousing wrinkle office he's also a tard. you don't need to make more you just to gtfo of new jersey. realizing you won't do that at least you wfh which is worth probably another $50-$100K. and at least you don't live in some joint held province of mexico and china that boarders the western united states. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558016) |
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Date: July 19th, 2019 5:19 PM Author: Khaki misunderstood theater stage Nah, I'd like to make more. If I can just get this stupid promotion then I'll be happy. They've been dangling it in front of my nose for years at this point. And when you're dual income relocating becomes a real bitch. Anywhere we would want to live wouldn't be cheaper anyway. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558024) |
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Date: July 19th, 2019 5:24 PM Author: domesticated cracking toilet seat center problem is if mandy ends up planting those frozen eggs or paying someone to do you, you cant count on her working at the same pace forever. Get your income up to $400K or else. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558044) |
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Date: July 19th, 2019 5:40 PM Author: Khaki misunderstood theater stage What? We're hiring a surrogate and also getting an au pair.
In any event, the goal in a year or two is to get her a chiller in-house job that will pay the same. We make normal in-house rate for our area.
And $400k is probably more than I'll get even with the promotion. I'll probably get low 300s, which if I can still WFH most days is epic win. |
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Date: July 19th, 2019 5:44 PM Author: domesticated cracking toilet seat center if you are getting a surrogate, why not get a surrogate sperm and egg donor as well - maybe a tall hapa and a tall blond chick? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558117) |
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Date: July 19th, 2019 6:04 PM Author: Khaki misunderstood theater stage lolwut? Nyet. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558215) |
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Date: July 19th, 2019 5:48 PM Author: Trip weed whacker keepsake machete If you weren’t crippled with autism, I’d advise you to jump ship if you wanted meaningful bumps in pay. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558135) |
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Date: July 19th, 2019 6:06 PM Author: Khaki misunderstood theater stage I'm already making almost double what I was making when I started. I have an idea of what I'll get if I get a promotion and it works for me. I understand that I could get more by jumping ship but there is more risk/stress in doing that. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558222) |
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Date: July 19th, 2019 6:16 PM Author: Trip weed whacker keepsake machete If you plan on having kids, you need to step it up and handle the risk and stress that comes with higher pay. I understand Mandy will continue to work but her salary will pretty much be stuck and it’ll be up to you to provide. Don’t be a pussy and shirk your duty. In every household, when there are kids involved, someone needs to be the provider and aim for a situation where working is optional for the other person because someone also needs to be primarily in charge of the kids. 95% of the time, the man is the provider. I’m an obvious exception given that I became an exceptionally good provider by accident and would otherwise be stuck in $125k in house purgatory. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558271) |
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Date: July 19th, 2019 6:23 PM Author: Khaki misunderstood theater stage Nah. I'm too lazy for that. Sorry.
Also, when I work all the time and have the attitude that comes with that Mandy isn't really understanding or forgiving, so there isn't the payoff one would expect to justify that. |
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Date: July 19th, 2019 6:41 PM Author: confused french chef dopamine JFC (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558360) |
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Date: July 19th, 2019 9:36 PM Author: dark arousing wrinkle office Chinkiest poast of the year.
Advising someone to ditch wfh right at the time he’s about to have kids is about the stupidest thing you can do |
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Date: July 19th, 2019 11:55 PM Author: Dun boltzmann (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559602) |
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Date: July 20th, 2019 12:55 PM Author: razzle candlestick maker faggotry "Remain a man"?
c'mon earl, stop fellating TMF |
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Date: July 19th, 2019 5:05 PM Author: fishy nighttime goyim not cool (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557939) |
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Date: July 19th, 2019 5:11 PM Author: Khaki misunderstood theater stage I'm perfectly cool with it. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557981) |
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Date: July 19th, 2019 5:08 PM Author: dark arousing wrinkle office think about how much of an insecure loser dumbfuck hawaiian faggot chink you have to be to make a statement like that (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557954) |
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Date: July 19th, 2019 5:09 PM Author: domesticated cracking toilet seat center settle down pumo (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557962) |
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Date: July 19th, 2019 5:10 PM Author: dark arousing wrinkle office holy shit you called me a pumo as an insult. I must have struck a nerve (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557968) |
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Date: July 19th, 2019 5:11 PM Author: Lime exciting menage no, i think earl struck a nerve. dont make enough money, do you? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557977) |
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Date: July 19th, 2019 5:10 PM Author: Lime exciting menage (guy that makes his wife work) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557971) |
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Date: July 19th, 2019 5:11 PM Author: dark arousing wrinkle office I have a SAHW (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38557979) |
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Date: July 19th, 2019 5:39 PM Author: Iridescent Motley Garrison Wait you have a stay at home wife with no kids? What does she do all day? (Out of curiosity because I was funemployed for a while and not having a purpose was soul-crushing.) (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558098) |
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Date: July 19th, 2019 5:40 PM Author: domesticated cracking toilet seat center he's lying. He's just one of those aggressive pumos (or alts) that likes to yell at people. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558104) |
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Date: July 19th, 2019 6:36 PM Author: Iridescent Motley Garrison odd case! (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558341) |
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Date: July 19th, 2019 9:38 PM Author: dark arousing wrinkle office Or maybe your just a retarded Hawaiian faggotwho knows fuck all about anything (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559052) |
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Date: July 19th, 2019 9:37 PM Author: dark arousing wrinkle office What the fuck are you talking about? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559050) |
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Date: July 19th, 2019 11:22 PM Author: Iridescent Motley Garrison Your stay at home wife. What does she do all day? (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559498) |
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Date: July 20th, 2019 6:39 AM Author: dark arousing wrinkle office Watch the kids which for some reason you assumed I didn’t have. With no kids you don’t have a stay at home wife, you just have an unemployed wife (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560130) |
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Date: July 19th, 2019 5:34 PM Author: Trip weed whacker keepsake machete People who are mid-career with 8-10 years experience dont have such job uncertainty. I can lose my job and know I can easily get another job in 6 months max.
OP is only 4th year assoc so different situation but you and Mandy are paranoid freaks. |
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Date: July 19th, 2019 5:36 PM Author: domesticated cracking toilet seat center on the other hand, I now fantasize about being laid off and unemployed for 6 months. That sounds amazing. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558088) |
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Date: July 19th, 2019 5:47 PM Author: Trip weed whacker keepsake machete Yes you’d be fine. You can actually just quit and take a 6 month break and go to some other firm. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558129) |
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Date: July 19th, 2019 5:54 PM Author: domesticated cracking toilet seat center I could go be a service partner somewhere else, but they probably would frown on me working from home half the time and showing up at 1 pm.
I actually have a pretty great gig here, for someone who still works too hard for asshole clients. |
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Date: July 19th, 2019 6:05 PM Author: Trip weed whacker keepsake machete Have you seriously considered just retiring early? Like by 45? It’s doable if you don’t have kids and you’d have very low fixed costs. You can move anywhere and rent out your condo. You don’t have to retire fully but do small time RE work from a beach somewhere.
We complain about boomers who benefited from low tuition and low housing costs, but the reality is that we both also got lucky with timing of biglaw pay increases, ITE and housing run up (admittedly I got even luckier with my unicorn job). Class of 08-11 got seriously fucked. Economy then recovered but 4th year assoc OP is fucked due to high law school tuition and peak housing costs.
My husband and I are seriously considering (semi) retiring once my gig is over. If it’s in ~7 years, we can move to a cheaper place and live off passive income from rent and work from home things. I can learn to write wills or something and he can do coding shit.
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Date: July 19th, 2019 6:11 PM Author: domesticated cracking toilet seat center if we have kids it will be next year. My brother's kid has created the deadline and wife will be 35 next year.
If we don't have kids I am definitely shutting it down at 47-50 and then working half time doing some bullshit as long as I feel like it. Working 1000 hours a year for $250K or something to keep the lights on sounds terrific - I'm just not sure whether I can keep doing that here. We have tons of lazy partners who don't work much but just enough to not get fired.
Btw have you seen photos of my nephew, he is pretty cute. looks 100% white every though my brother and his wife are 50-50 hapa. My brother and I also looked white until we were 1. |
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Date: July 19th, 2019 6:20 PM Author: Trip weed whacker keepsake machete Lol at waiting til 47-50 if you don’t have kids! You def don’t have to wait that long. You should have at least one kid though in which case early retirement goes bye bye. I’m assuming your brother is all in now with the house, kid(s). Yes I’ve seen photos and he looks like a cute tanned white baby. your brother seems really into the whole fatherhood thing, which is sweet. A lot of fathers don’t like the early days. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38558290) |
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Date: July 19th, 2019 10:19 PM Author: mint thriller stage persian What’s the monthly payment on that for mortgage, taxes, and insurance (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559245) |
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Date: July 19th, 2019 11:52 PM Author: fishy nighttime goyim it has to be at least 7k, probably 8k. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559592) |
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Date: July 20th, 2019 12:11 AM Author: supple death wish About $6,500 all in. (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559659) |
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Date: July 20th, 2019 5:40 AM Author: lascivious frisky sanctuary ljl (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560084) |
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Date: July 20th, 2019 12:11 AM Author: supple death wish Lol pussy. I have a $1.1 million mortgage and it’s NBD. $500k HHI (not reliant on big law). (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38559658) |
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Date: July 20th, 2019 12:21 AM Author: Poppy deep organic girlfriend This is such an easy mortgage tonlsy on that income. You could probably make it work on $300k.
There are almost no decent homes in major coastal metro areas - NY, SF, etc - within a reasonable commuting distance for less than that. |
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Date: July 20th, 2019 5:40 AM Author: lascivious frisky sanctuary OP is in biglaw. Dumb idea (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560083) |
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Date: July 20th, 2019 6:42 AM Author: vivacious jade mad-dog skullcap These threads are catnip to XO 2019 (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560133) |
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Date: July 20th, 2019 12:48 PM Author: Khaki misunderstood theater stage 100% (http://www.autoadmit.com/thread.php?thread_id=4306132&forum_id=2#38560983) |