I have a great income, a credit score over 800, decent savings, and almost zero debt, yet I can't afford to buy a house in Colorado Springs. I'm shocked at the cost of houses. I'm single, so there is only my income but I'll be drowning in a mortgage payment for whatever I buy, At this point it might have to be an insulated TUFF SHED. Very Frustrated.
Home ownership doesn't appear to be a part of my American Dream.. at least not In Colorado
have a great income, a credit score over 800, decent savings, and almost zero debt, yet I can't afford to buy a house in Colorado Springs
You're bullshitting about one of those..
The monthly payment on my 2400 sq ft house in BLR is only $3,800..And that's a 475k 4 yr old home with tons of upgrades in an upscale neighborhood. There are plenty of houses in other neighborhoods that go in the mid to high 300s. There are also neighborhoods full of lease land patio style houses that go in the 200s.
If all that you stated above were true, you could buy a house, you've just chosen not to.
If you're a first time homebuyer, you can get with a conventional or FHA loan with only 3% down.
Only $3800... are you kidding? That's insanely high. You're saying this like you got a steal or something.
To you maybe...But OP says they have "great income"...$3800 is a small amount to people with great incomes.
Really depends on what "great income" means to OP, and unfortunately it seems like they've ghosted the thread after posting.
I also think people are dealing with the shock of how rapidly mortgage costs went up throughout covid. We saw home prices shoot up at the same time that mortgage rates doubled. Just a few years ago your mortgage payment would have been something like $1500/month cheaper (when 30 year rates fell below 3%) and people are having a hard time emotionally accepting the increase.
unfortunately it seems like they've ghosted the thread after posting.
That's OP isn't real. Russian sock puppet just trying to spread negativity and division. Also, you're conveniently only debating one part of my argument and completely miss the fact that I reference several affordable options for buying a house here
Also, you're conveniently only debating one part of my argument
I wasn't trying to debate it, I was trying to add some context around it. I largely agree with you lol
Not to be a dick, but what was the point of that? Most people are fully capable of providing their own context.
No one asked you to do that, and honestly, no one gave a shit that you did. Bye now
Yeah, my house was roughly $475K and purchased with a small down payment. My mortgage is $2,400 a month. $3,800 is crazy high to me. This person is proving OP's point while being dismissive.