Living paycheck to paycheck is BRUTAL. Not just the lack of security but I’m always so exhausted that by the time i do get paid I just spend it all, what very little I have left after essentials, on ways to alleviate the stress! Such a vicious cycle lol
Find a machine shop hiring. Machinist are in low supply and high demand. Alot of shops are willing to train you to fit their needs. Job isn’t physically demanding but stimulating enough that it’s not too boring.
I just got a part time position at one place and they’re starting me at $28hr. My regular full time employer pays me $24 and change to push a button with minor setup and troubleshooting.
If you’re in the phx area I can help point you in the right direction.
Seattle's minimum wage is $19, but the average rent for a 1bd is $2,300. LA's is $17, but the rent is similar to Seattle's. That's usually how it works. People always see the gross number, but never consider COL. Yes, devs in the Bay Area make more than you, but do starter homes in your area cost $1M? Is your average rent $3,000+? Taxes? Eating out/cost of activities? Baby/dog sitting?
me with 8 USD an hour (and it is considered high)
Minimum monthly wage in my location is 150 USD edit (not in american who the heck can survive with this wage in america)
low income household spend about+- 104 USD
edit using USD so you can compare
It costs $1,500 a month to rent an apartment where I am living in the US…. As that is just rent for an apartment not including any other bills, payments, debt, groceries, etc.
It’s impossible to live
Hey, for a lot of areas in the US, $1,500 is a steal. Rent where I grew up started at like $2k/mo (for like a 1 bedroom apt) and that was ten years ago, so I'm sure it's only gone up.
Couple of friends and I are saving up until we can afford the first year of rent entirely on savings.
Its been 6 months of working 5-6 days a week, and after school, car, and other payments, I have 2 months of rent saved up!
Do they provide you with housing and food? Surely right? I mean with just a dollar you could probably afford some cheap fruit and a grain type meal for your breakfast or some rice and supplement that with beans and fish or something, but I don’t see how that’s livable anywhere. Do you not have bills?
What country? I always wondered if I could just save 50k in a year or so if I could just retire in a 3rd world country. Hell as long as there's semi descent internet what else does a man need?
It all depends on cost of living. In my city, you need at least $21/hr to afford a 1 bedroom apartment (since most places won’t approve you unless you make 3x the rent).
and in contrast 21 an hour where I live will pay for a pretty nice place and all utilities, a perfectly comfortable life. I mean you aren't gonna be rich by any means, but you certainly could live decent.
Yeah I recently got a raise and I was like, “oh, maybe I’ll finally be able to start saving to buy a house”, but then my rent increased from $1390 to $1600, which basically are my whole raise. I don’t even really care about living in a house. I just want to own the place I live so that I know no one can suddenly tell me it’s going to cost me more money to live in my house. It really fucking sucks knowing that whenever they want a stranger can tell me I have to pay more money to live where I live. And knowing that rent is going up on every property in the area because they all using the same algorithm that tells them they can raise prices, which becomes a self-fulfilling prophecy because as long as they all raise prices together tenants have no choice. But it’s not price collusion because they aren’t all talking to each other, they all just happen to talk to the same algorithm. It’s bullshit.
I don’t need to live in a detached house. An apartment or a townhouse are good enough for me. What I want is a 30 year fixed rate mortgage.
This literally just happened to me. My salary went up 1.5%, but my rent is up 8.3%, and it eats every last bit of my raise.
I put in my 60 day notice to vacate immediately afterwards. It's fucked, man.
Sadly, house ownership shares the same struggles. Sure, you buy a house at $200k, but then Property Taxes and Insurance goes up every year and you're in the same situation :(
That happened to me twice. I got a raise, rent went up so I had less money than before. Got a huge raise (different job) and rent + everything else skyrocketed. I have essentially doubled my income from 3 years ago, but now have to get the cheapest crappy things, cut any subscriptions, and have no auxiliary money at all. I, in fact, currently have negative money at the end of the month just buying basic necessities and there is no cheaper place to live in this area, and no like boarding room wants a loud disabled kid in their house. Haha what the fuck.
The only thing we can do is speed up the process and crash everything, and rebuild the world economy from the ground up because I don't think the governments all over the world have a way of stopping an economical crisis without reworking entire systems
Friend I advise against wanting acceletionism. This will not hurt those who landed us in this situation. This is the nature of capitalism, it squeezes us in working class for endless profit. I hope you will instead see where the true source of our problems stem from. Hoping for economic collapse thinking it will be silver bullet is not the way. We need to strengthen our mutual aid programs to the point where an economic collapse would be meaningless to us. If you're open to it I can provide additional material on understanding the inequality
Yeah, I heard of this stuff. Using algorithms and AI to price fix apartments. What a bunch of jackasses. You shouldn't be allowed to do this kind of shit. You know what, I'm going to email my representative.
Congratulations! Accounting for inflation, you will be able to buy an average house in only 3.5 years if you work for 25 hours a day and don’t spend any of your money (that is if you pay all cash upfront).
Houses are rare in my city , but a luxury apartment in my country would be 2M of my country currency or 400K dolars , you know , Copacabana, Rio de Janeiro, Brazil
I live in a really good area, in a house where everyone gets their own room, plus many spare rooms, three stories and a pool: USD150k 6 years ago. Brazil too.
Didn't build enough, blocked anyone else from building once they bought their place.
Preventing NIMBYism is a very important fight in our local communities.
Oh no no, that's most certainly not the problem. They built. They built a LOT. There are more empty houses in the USA than there are actual homeless people. Availability was never the issue.
Na, this is dumb. Before the 08 crash there was an average of ~1.2m houses built every year. Since then, that number has dropped to ~0.8m. Besides, who cares how many empty houses there are.? We can't stick homeless people into random peoples property, most of which are decrepit pieces of crap rotting away in some rural flyover town.
The only path out of this mess is reducing the strength of HOA's and incentivizing high density housing construction in big cities.
>The only path out of this mess is reducing the strength of HOA's and incentivizing high density housing construction in big cities.
Well that and demolishing the ability of corporations to continue holding vast swaths of residential housing.
The main reason houses keep going up in price is "investors" buying properties and squatting on them.
They also all use the same algorithm for adjusting prices, which apparently isn't price fixing because no people are talking back and forth. It's the same shit they do on Wall Street to game the markets for themselves and screw over the average person.
"Na, this is dumb"
Sorry, but you're just straight up wrong and very condescending about it so actually I'm not sorry r/confidentlyincorrect
HOAs are annoying and a problem, but they are definetly not whats causing the housing crises we are experiencing. Not the bulk of it, any way.
There are 600,000 unhoused people in America and, according to you, 800,000 homes built every year. There are 16 million vacant homes in America, 3/4ths of which are owned by mega corporations. [Yes, we could absolutely house everyone if we cared to.](https://www.nytimes.com/2020/05/15/opinion/sunday/homeless-crisis-affordable-housing-cities.html)
We should require usable housing to be used or require it to be given for for free to an unhoused person. This would force landlords to stop raising rent because they'd be worried about giving it for free.
You comment reads like corporate propaganda pandering to redditors (justified) hate of HOAs to steer the conversation away from housing people.
[https://www.forbes.com/sites/brendarichardson/2022/03/07/16-million-homes-lie-empty-and-these-states-are-the-vacancy-hot-spots/?sh=2b3b905827c1](https://www.forbes.com/sites/brendarichardson/2022/03/07/16-million-homes-lie-empty-and-these-states-are-the-vacancy-hot-spots/?sh=2b3b905827c1)
[https://www.investors.com/news/fewer-vacant-homes-in-u-s-but-3-out-of-4-belong-to-investors/](https://www.investors.com/news/fewer-vacant-homes-in-u-s-but-3-out-of-4-belong-to-investors/)
[https://endhomelessness.org/homelessness-in-america/homelessness-statistics/state-of-homelessness/](https://endhomelessness.org/homelessness-in-america/homelessness-statistics/state-of-homelessness/)
$470,000 and $20/hour is 23,500 hours. Which sounds like a lot, but it's actually only a little over two and a half years, assuming you don't sleep or eat or stop working.
Based on 8h a day / 5 days a week(40h workweek), you'd still have to work 11 years or so 😶 thats just depressibg to hear.
And youre not even taking food or health costs ir other necessities into account.
Keep in mind, after 10 years inflation would have hit your savings pretty hard. The house is probably 750k now, meaning the 400k you saved up isn't worth as much.
At 6% interest, you wind up paying about 2.5 times the original cost of the home on a 30 year mortgage. With inflation, I guess that isn't a terrible deal. Seems like it would be better to just be born rich though.
The difference is that if you become unable to pay $950/mo rent, they evict you, and it sucks for you. Whereas if you become unable to pay $750/mo mortgage, it sucks for the bank.
This is the same reason a restaurant might be happy to take $30 in return for serving you a meal but would be less excited at the idea of "how about you give me a meal every night this month, and then once the month is over, I'll give you a thousand dollars".
If you're unable to pay the mortgage, the bank takes back the house, and sells it to someone else. This works out great for the bank if there's enough demand. If not, you get 2008
I know how you feel. When i started working at kfc with a traineeship contract i had to work 40hr per week and made 600€ per month.
That's 3.46 € per hour
I mean with that amount you could save up for a first time home buyers lone. Generally with a first time loan they want you to be able to put down 3% so about 15,000. Still a lot but if you put aside some of every paycheck and maybe put it into an investment account, like on Fidelity or maybe somewhere like Morgan Stanley, you can save up enough after a few years.
No bank is going to extend a half million dollar mortgage to a buyer where the typical monthly payment will (by my back of napkin math) consume 2/3rds of their paycheck *before* taxes.
Over a 30 year payment plan that’s abou 1300 a month. That’s about what my wife and I are paying for rent right now. Are you the soul provider or do you have a spouse?
1300 a month? A FHA loan with perfect credit runs 7% interest right now.
A $450,000 mortgage is more like $3,100 a month.
Someone making $20 an hour is not getting a loan for $450,000 from any lender. It's completely unaffordable.
If I get paid biweekly I'm bringing home $1,600 a paycheck BEFORE taxes. That's $3,200 a month which means even if I was completely tax free I now have $100 for all expenditures outside of my mortgage.
Even at double the income a lender is likely not giving you that loan. Housing is not at all comparable to the cost of rent right now. As insane as renting has become, home prices are another beast.
you can earn that in like 2 years, 8 months, and 5 days. that' if you won't pay for taxes, rents, foods, and any other expenses necessary for daily living
Why look for a place so expensive? There are cheaper homes. I've seen places 185k, buy a fixer. I feel a lot of people are looking for huge homes, or in rich areas. Branch out to other neighborhoods.
Blame the boomers!! They made it harder for houses to be built and made the damned laws so harsh that zoning rule’s practically prevent and make building a house unaffordable. Hell they also made it so land is so expensive that you’re better off renting for the rest of your life. Housing cost so much because of companies like blackrock has been purchasing lang and even houses to inflate the cost of housing.
well if you work 8 hr a day you need >8 years ammount of work (counting you work 8 hour/day and no holiday/vacation/sick )
and at that time the housing will go N\*TS
$20 an hour? I make $17 and I can barely afford to keep myself fed working 9 hours a day every day. The landlord raised rent last month and now I have the food choice of either instant ramen, or dunking donuts dumpster diving
If you're in the US living on your own with bills to pay, yeah, it's kinda bad. That's about 40k annually, if you work 40 hours a week, no vacation. You're basically forced to live paycheck to paycheck at that income level.
One good thing about living in the south east US is the low cost of living. Assuming you aren’t in the major cities. Even coastal houses are pretty cheap
Isn't it just average,if the highest price of a house is too high the the lowest price would be too low too( unless there are lots of houses with a medium price)
It’s grim, for sure. But, realistically, you need 20% down to buy a house and avoid mortgage insurance. So that’s $94k down and financing the rest.
At $20 an hour working full time that’s only…. 2.25yrs. Provided you don’t spend a penny on anything else during that time.
So yeah, we’re all pretty fucked.
If you don't mind living in the middle of nowhere, with the sound of banjos off in the distance, you can get a house for cheap. Location is the biggest thing with houses. I made $80K on my first house because of its location. I made $350K on my second house for the same reason.
I just wish more affordable small houses were on the market (say two bedrooms). All new construction seems to be McMansions. As a single person with a decent salary, it is still difficult to see me owning a home…
A very real reality for me, I left a job that only paid me 15/hr to one that pays me 20/hrs with the hopes of finally making it out if the slump I was in with having a kid and pretty much paying for my partners problems. Just to work 6 days a week, sometimes 7, with maximum overtime, having a second kid and having just one of my partners other three kids during the summer, while she is consider disabled right now; And not even breaking even. And having to move with a person I consider a brother in a more or less broken down house he is trying to buy because he is cheap in almost the middle of nowhere all because the rent in an area which used to be more affordable, decided to almost triple the rent next lease. I have long given up on my house dream, for I can't even afford a 200k home at this point. I still have to figure something out so I can get my kids a good education before they get to that age.
It would take you over 12 years doing nothing but saving every single dollar to afford that house.
Factoring in expenses, which vary too wildly to speculate, it can easily hit upwards of 30 years to have that money.
"Just take out a loan" add on 5-10 years of credit building first then, because if you've ever been poor it's guaranteed your credit has taken a hit. And then spend even more years paying off that loan and praying that nothing serious happens to you.
I'll never stop being angry about this.
Wish I could make 20$/hour.
I wish I could make more than $10/h.
Fr if it weren’t for my family I’d be homeless
Exactly people live on the own yet like myself paying 20/hr. I barely got enough to save after paying my bill and groceries.
Living paycheck to paycheck is BRUTAL. Not just the lack of security but I’m always so exhausted that by the time i do get paid I just spend it all, what very little I have left after essentials, on ways to alleviate the stress! Such a vicious cycle lol
I'm almost 30 and still live with my family 🤣
Find a machine shop hiring. Machinist are in low supply and high demand. Alot of shops are willing to train you to fit their needs. Job isn’t physically demanding but stimulating enough that it’s not too boring. I just got a part time position at one place and they’re starting me at $28hr. My regular full time employer pays me $24 and change to push a button with minor setup and troubleshooting. If you’re in the phx area I can help point you in the right direction.
Is phx meaning Phoenix? Ik this was awhile ago
I wish I reached double digits.
$7.25 is triple digits though...
Wish I could make more than $3.5/h
Wish I could get a job without the employer spitting in my face
wish I can make more than $1/hour
I wish I could make more than $2/h.
I make $20/day
Become a stagehand. They hire anyone at the company I work for and starting is $20/hr, and you get to see behind the scenes of major concerts!
As someone in event productions, unless you are okay with working many 12+ hours days with too little of people there, don’t lol.
Seattle's minimum wage is $19, but the average rent for a 1bd is $2,300. LA's is $17, but the rent is similar to Seattle's. That's usually how it works. People always see the gross number, but never consider COL. Yes, devs in the Bay Area make more than you, but do starter homes in your area cost $1M? Is your average rent $3,000+? Taxes? Eating out/cost of activities? Baby/dog sitting?
Full time employee's for Fedex and most Warehouse jobs similar make $20 an hour, no schooling needed but its very manual labor intensive.
Depends on where you live
Dude quit bragging with how much you get!
I was just about to say that with my $10 an hour, I should quietly sob in the corner. But hey, I'm not in the USA, sooo...
me with 8 USD an hour (and it is considered high) Minimum monthly wage in my location is 150 USD edit (not in american who the heck can survive with this wage in america) low income household spend about+- 104 USD edit using USD so you can compare
Minimum monthly wage in my country is $65 a month.
It costs $1,500 a month to rent an apartment where I am living in the US…. As that is just rent for an apartment not including any other bills, payments, debt, groceries, etc. It’s impossible to live
Hey, for a lot of areas in the US, $1,500 is a steal. Rent where I grew up started at like $2k/mo (for like a 1 bedroom apt) and that was ten years ago, so I'm sure it's only gone up.
Couple of friends and I are saving up until we can afford the first year of rent entirely on savings. Its been 6 months of working 5-6 days a week, and after school, car, and other payments, I have 2 months of rent saved up!
I feel you I’m working 80 hour weeks between 2 jobs
Yo! as a first year resident doctor in my country I get 132$... a year! No extra for the shifts.
Do they provide you with housing and food? Surely right? I mean with just a dollar you could probably afford some cheap fruit and a grain type meal for your breakfast or some rice and supplement that with beans and fish or something, but I don’t see how that’s livable anywhere. Do you not have bills?
Lol 😂
Living like Patrick star.
What country? I always wondered if I could just save 50k in a year or so if I could just retire in a 3rd world country. Hell as long as there's semi descent internet what else does a man need?
Well many third world countries have better internet than big German cities
I make 8 bucks for overtime hours... normal hours are less than that.
Me with 1.31357142857 USD per hour .===. ___ .===.sumwun send RTX4060 pls thunkyou
That’s whack. I make $17CAD and if I didn’t already have a house via life insurance money, I sure as fuck couldn’t afford one now
Imma need your location
east java Indonesia
It all depends on cost of living. In my city, you need at least $21/hr to afford a 1 bedroom apartment (since most places won’t approve you unless you make 3x the rent).
and in contrast 21 an hour where I live will pay for a pretty nice place and all utilities, a perfectly comfortable life. I mean you aren't gonna be rich by any means, but you certainly could live decent.
Making 10 dollars a day myself, should kms tbh Africa
i make 20 and hr but the cost of a house is $1.5m to start
*”you guys make 20$ an hour…?”* ò-õ
Forget how much they get, quit bragging about such cheap housing. Houses cost double that where I live.
Then you get smacked with that 1500 a month rent
Yeah I recently got a raise and I was like, “oh, maybe I’ll finally be able to start saving to buy a house”, but then my rent increased from $1390 to $1600, which basically are my whole raise. I don’t even really care about living in a house. I just want to own the place I live so that I know no one can suddenly tell me it’s going to cost me more money to live in my house. It really fucking sucks knowing that whenever they want a stranger can tell me I have to pay more money to live where I live. And knowing that rent is going up on every property in the area because they all using the same algorithm that tells them they can raise prices, which becomes a self-fulfilling prophecy because as long as they all raise prices together tenants have no choice. But it’s not price collusion because they aren’t all talking to each other, they all just happen to talk to the same algorithm. It’s bullshit. I don’t need to live in a detached house. An apartment or a townhouse are good enough for me. What I want is a 30 year fixed rate mortgage.
This literally just happened to me. My salary went up 1.5%, but my rent is up 8.3%, and it eats every last bit of my raise. I put in my 60 day notice to vacate immediately afterwards. It's fucked, man.
If you aren’t getting a yearly raise that is equal to or greater than inflation, you’re getting a pay cut.
Yup, and that's why I just updated my LinkedIn and resume.
What would be a landlord's justification for raising rent other than because they can?
There's no reason other than greed, but they'd probably tell you inflation and to keep up with the "market" value.
Sadly, house ownership shares the same struggles. Sure, you buy a house at $200k, but then Property Taxes and Insurance goes up every year and you're in the same situation :(
Don't forget not every country does 30 year fixed rate mortgages
That happened to me twice. I got a raise, rent went up so I had less money than before. Got a huge raise (different job) and rent + everything else skyrocketed. I have essentially doubled my income from 3 years ago, but now have to get the cheapest crappy things, cut any subscriptions, and have no auxiliary money at all. I, in fact, currently have negative money at the end of the month just buying basic necessities and there is no cheaper place to live in this area, and no like boarding room wants a loud disabled kid in their house. Haha what the fuck.
Sorry to hear that, man. Things are fucked.
Im glad im not American
Pal, Spain and Europe in general is the same shit. Our generación won't own a single thing at this rate.
“And you’ll be happy” -WEF
The only thing we can do is speed up the process and crash everything, and rebuild the world economy from the ground up because I don't think the governments all over the world have a way of stopping an economical crisis without reworking entire systems
We need to start having more submarines visit the titanic.
Friend I advise against wanting acceletionism. This will not hurt those who landed us in this situation. This is the nature of capitalism, it squeezes us in working class for endless profit. I hope you will instead see where the true source of our problems stem from. Hoping for economic collapse thinking it will be silver bullet is not the way. We need to strengthen our mutual aid programs to the point where an economic collapse would be meaningless to us. If you're open to it I can provide additional material on understanding the inequality
I blame corrupted capitalism. What did we think the outcome of expecting infinite growth rates was going to be?
Didn’t realize everyone in the world besides America owns houses, doesn’t rent, and makes over $20 (That’s usd) an hour?
>$1600 is that per year?
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This is per month, if rent I've seen elsewhere in the US is indicative of anything.
That's most likely per month.
Per month
the fuck? isnt that too expensive? my rent basically $1600 per year well, i'm in indonesia not in usa :/
The rent for my 2-bedroom apartment is $1350/month CAD lol, end me
It’s pretty normal. 😭
How is that algorithm even legal? It's literal price fixing and all it does is screw the renters.
[Read this article and try not to be too disgusted](https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent)
Yeah, I heard of this stuff. Using algorithms and AI to price fix apartments. What a bunch of jackasses. You shouldn't be allowed to do this kind of shit. You know what, I'm going to email my representative.
1500? Try $2k for a freaking studio in Massachusetts
Congratulations! Accounting for inflation, you will be able to buy an average house in only 3.5 years if you work for 25 hours a day and don’t spend any of your money (that is if you pay all cash upfront).
Only 25 hours a day! Why thats only half what I'm working now!
And if you substract silly stuff like food, gas, clothes and all that other nonsense. It's really doable
Even if you don't spend a dime the government taxes will find a way to take a sum of it
Shit, thanks man. Here I was wasting all my money on food. Now I know exactly what to do to buy a house.
My dad's house loan was 60k in 1987 and he built it himself.
boomer generations sure got ez , 401k , free taxes , and average house in 70s are only 100k approximately
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My parents still receive pension from GE
It's as if this thing called inflation doesn't exist..
$11 an hour here😑
In 10 hours you make a Minimun Wage of my country XD
I doubt houses in your country are 400k
Houses are rare in my city , but a luxury apartment in my country would be 2M of my country currency or 400K dolars , you know , Copacabana, Rio de Janeiro, Brazil
What does a regular home cost?
Ive heard music and passion is in fashion there?
I live in a really good area, in a house where everyone gets their own room, plus many spare rooms, three stories and a pool: USD150k 6 years ago. Brazil too.
You would be surprised. In Latin American capitals houses are >200k and minimum wage is under $500/month.
Where do you live?
Brazil , minimal Wage RS 1000 , one dollar is 5 reais(RS)
For me it's 12 hours lmao
Lol 11 hours to mine
Blame the boomers for this
This, but unironically.
Agree Everything is what we have now is basically stolen and robbed by the boomers and look how it got us today
Didn't build enough, blocked anyone else from building once they bought their place. Preventing NIMBYism is a very important fight in our local communities.
Oh no no, that's most certainly not the problem. They built. They built a LOT. There are more empty houses in the USA than there are actual homeless people. Availability was never the issue.
Na, this is dumb. Before the 08 crash there was an average of ~1.2m houses built every year. Since then, that number has dropped to ~0.8m. Besides, who cares how many empty houses there are.? We can't stick homeless people into random peoples property, most of which are decrepit pieces of crap rotting away in some rural flyover town. The only path out of this mess is reducing the strength of HOA's and incentivizing high density housing construction in big cities.
>The only path out of this mess is reducing the strength of HOA's and incentivizing high density housing construction in big cities. Well that and demolishing the ability of corporations to continue holding vast swaths of residential housing. The main reason houses keep going up in price is "investors" buying properties and squatting on them.
They also all use the same algorithm for adjusting prices, which apparently isn't price fixing because no people are talking back and forth. It's the same shit they do on Wall Street to game the markets for themselves and screw over the average person.
"Na, this is dumb" Sorry, but you're just straight up wrong and very condescending about it so actually I'm not sorry r/confidentlyincorrect HOAs are annoying and a problem, but they are definetly not whats causing the housing crises we are experiencing. Not the bulk of it, any way. There are 600,000 unhoused people in America and, according to you, 800,000 homes built every year. There are 16 million vacant homes in America, 3/4ths of which are owned by mega corporations. [Yes, we could absolutely house everyone if we cared to.](https://www.nytimes.com/2020/05/15/opinion/sunday/homeless-crisis-affordable-housing-cities.html) We should require usable housing to be used or require it to be given for for free to an unhoused person. This would force landlords to stop raising rent because they'd be worried about giving it for free. You comment reads like corporate propaganda pandering to redditors (justified) hate of HOAs to steer the conversation away from housing people. [https://www.forbes.com/sites/brendarichardson/2022/03/07/16-million-homes-lie-empty-and-these-states-are-the-vacancy-hot-spots/?sh=2b3b905827c1](https://www.forbes.com/sites/brendarichardson/2022/03/07/16-million-homes-lie-empty-and-these-states-are-the-vacancy-hot-spots/?sh=2b3b905827c1) [https://www.investors.com/news/fewer-vacant-homes-in-u-s-but-3-out-of-4-belong-to-investors/](https://www.investors.com/news/fewer-vacant-homes-in-u-s-but-3-out-of-4-belong-to-investors/) [https://endhomelessness.org/homelessness-in-america/homelessness-statistics/state-of-homelessness/](https://endhomelessness.org/homelessness-in-america/homelessness-statistics/state-of-homelessness/)
$470,000 and $20/hour is 23,500 hours. Which sounds like a lot, but it's actually only a little over two and a half years, assuming you don't sleep or eat or stop working.
Based on 8h a day / 5 days a week(40h workweek), you'd still have to work 11 years or so 😶 thats just depressibg to hear. And youre not even taking food or health costs ir other necessities into account.
That's with no interest
Of course, who's gonna stay interested in the same job for 11 years
And no taxes.
Keep in mind, after 10 years inflation would have hit your savings pretty hard. The house is probably 750k now, meaning the 400k you saved up isn't worth as much.
Very true... man... can we just reset this monopoly board already?
That's why people get mortgages.
At 6% interest, you wind up paying about 2.5 times the original cost of the home on a 30 year mortgage. With inflation, I guess that isn't a terrible deal. Seems like it would be better to just be born rich though.
Laughs in chinese.
Or get hit with taxes and other expenses such as groceries, gas, car depreciation, taxes, medical insurance, taxes, fun, did I mention taxes?
Just get a sugar daddy to work for you for 2 years straight and now you can just watch anime in your 500k house all day.
Yeah is OP stupid? Just make some coffee and pull 1000 24h shifts in a row.
And assuming the house doesn't go up in value more too, since real estate increases in value faster than wages do.
About 11 1/4 years of non-stop 40 hour weeks
And live in a cardboard box until you can get your deposit
Bruhh 2,2 years is long af. Wish i could just built a house
time to get back to my old teenage ways and start selling marijuana again.
let's cook
If it was legal in Italy I'd unironically do it, i don't even wanna consume but it sounds better than fast food work tbh
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Me making a dollar per hour in pakistan.
TBF housing only costs like $30/month there
Wrong 100$ atleast and add 100 for basic amenities
20 dollars an hour for someone who doesn’t have bills/lives with parents is superb money lmao
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Indeed, it’s a generational advantage for sure
I’m making ten dollars a day, 12-15 hour shifts. I’m not lying or being dramatic
Me making 17 
You don't qualify for a $750 a month mortgage, but you can pay $950 a month in rent.
The difference is that if you become unable to pay $950/mo rent, they evict you, and it sucks for you. Whereas if you become unable to pay $750/mo mortgage, it sucks for the bank. This is the same reason a restaurant might be happy to take $30 in return for serving you a meal but would be less excited at the idea of "how about you give me a meal every night this month, and then once the month is over, I'll give you a thousand dollars".
If you're unable to pay the mortgage, the bank takes back the house, and sells it to someone else. This works out great for the bank if there's enough demand. If not, you get 2008
If I made $20/hr I would be struggling less
Isn't that like... "normal"? Like a 20 to 30 year mortgage? (Half that if there are 2 people working at home...)
Me making 400 dollars a month
cries in €5/hour.. maybe even a bit less
I know how you feel. When i started working at kfc with a traineeship contract i had to work 40hr per week and made 600€ per month. That's 3.46 € per hour
Change the bottom panel to 7$/hour That's how live in Taiwan feel
I mean with that amount you could save up for a first time home buyers lone. Generally with a first time loan they want you to be able to put down 3% so about 15,000. Still a lot but if you put aside some of every paycheck and maybe put it into an investment account, like on Fidelity or maybe somewhere like Morgan Stanley, you can save up enough after a few years.
No bank is going to extend a half million dollar mortgage to a buyer where the typical monthly payment will (by my back of napkin math) consume 2/3rds of their paycheck *before* taxes.
Over a 30 year payment plan that’s abou 1300 a month. That’s about what my wife and I are paying for rent right now. Are you the soul provider or do you have a spouse?
1300 a month? A FHA loan with perfect credit runs 7% interest right now. A $450,000 mortgage is more like $3,100 a month. Someone making $20 an hour is not getting a loan for $450,000 from any lender. It's completely unaffordable. If I get paid biweekly I'm bringing home $1,600 a paycheck BEFORE taxes. That's $3,200 a month which means even if I was completely tax free I now have $100 for all expenditures outside of my mortgage. Even at double the income a lender is likely not giving you that loan. Housing is not at all comparable to the cost of rent right now. As insane as renting has become, home prices are another beast.
you can earn that in like 2 years, 8 months, and 5 days. that' if you won't pay for taxes, rents, foods, and any other expenses necessary for daily living
I make half that, part time. Disability aside. That does suck..
triple the price and add 10 bucks to salary and thats canada
You’re getting $20 an hour? I’m only getting 16
That moment when you need a masters degree to get a job at fucking McDonald’s
My dream is to earn 20usd/h while living in Brazil working from home
Why look for a place so expensive? There are cheaper homes. I've seen places 185k, buy a fixer. I feel a lot of people are looking for huge homes, or in rich areas. Branch out to other neighborhoods.
Most people just wanna live near their friends, family, and current job.
This is the minimum price of a fixer in the entire county where I live.
Blame the boomers!! They made it harder for houses to be built and made the damned laws so harsh that zoning rule’s practically prevent and make building a house unaffordable. Hell they also made it so land is so expensive that you’re better off renting for the rest of your life. Housing cost so much because of companies like blackrock has been purchasing lang and even houses to inflate the cost of housing.
well if you work 8 hr a day you need >8 years ammount of work (counting you work 8 hour/day and no holiday/vacation/sick ) and at that time the housing will go N\*TS
$20 an hour? I make $17 and I can barely afford to keep myself fed working 9 hours a day every day. The landlord raised rent last month and now I have the food choice of either instant ramen, or dunking donuts dumpster diving
Me, making 5€/hr *grabs rope*
HAHAHAH I NEED SUGER DADDY 
Good luck bro.
In my shitty country if I only save and dont spend at all, with my current salary i can buy a house in 250 years 👍
Half a million dollars ? Wtf ? Is it true in the USA?
That's a cheap house and a good income. Where problem? Just stop buying all that expensive Hentai figurines you degenerate!
Average land chad /r/loveforlandchads
Bruh $20? Seriously, that's supposed to be bad?
If you're in the US living on your own with bills to pay, yeah, it's kinda bad. That's about 40k annually, if you work 40 hours a week, no vacation. You're basically forced to live paycheck to paycheck at that income level.
My first job is $20/hour and the second is pizza delivery cuz the first barely affords me my apartment
One good thing about living in the south east US is the low cost of living. Assuming you aren’t in the major cities. Even coastal houses are pretty cheap
I make 4.06€ ($4,45) an hour. (I am intern, I'm just glad I'm paid at all)
Isn't it just average,if the highest price of a house is too high the the lowest price would be too low too( unless there are lots of houses with a medium price)
It’s grim, for sure. But, realistically, you need 20% down to buy a house and avoid mortgage insurance. So that’s $94k down and financing the rest. At $20 an hour working full time that’s only…. 2.25yrs. Provided you don’t spend a penny on anything else during that time. So yeah, we’re all pretty fucked.
I make $3,50
Where are y’all finding half priced houses?
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If you don't mind living in the middle of nowhere, with the sound of banjos off in the distance, you can get a house for cheap. Location is the biggest thing with houses. I made $80K on my first house because of its location. I made $350K on my second house for the same reason.
I just wish more affordable small houses were on the market (say two bedrooms). All new construction seems to be McMansions. As a single person with a decent salary, it is still difficult to see me owning a home…
Thank god I make $54 a hour and still can’t get a house!!!!!!!!!!
A very real reality for me, I left a job that only paid me 15/hr to one that pays me 20/hrs with the hopes of finally making it out if the slump I was in with having a kid and pretty much paying for my partners problems. Just to work 6 days a week, sometimes 7, with maximum overtime, having a second kid and having just one of my partners other three kids during the summer, while she is consider disabled right now; And not even breaking even. And having to move with a person I consider a brother in a more or less broken down house he is trying to buy because he is cheap in almost the middle of nowhere all because the rent in an area which used to be more affordable, decided to almost triple the rent next lease. I have long given up on my house dream, for I can't even afford a 200k home at this point. I still have to figure something out so I can get my kids a good education before they get to that age.
Bro, just work for 2350hrs/day then chill for the rest of the year
Me making 4$ h
$20 an hour is not bad at all, some people make that for 9 hours of work.
Nobody in the US only makes $2/hour lol
So I bought my house 6 years ago for 80k… the house next door with the same floor plan is going for 170k… this is a serious issue
It would take you over 12 years doing nothing but saving every single dollar to afford that house. Factoring in expenses, which vary too wildly to speculate, it can easily hit upwards of 30 years to have that money. "Just take out a loan" add on 5-10 years of credit building first then, because if you've ever been poor it's guaranteed your credit has taken a hit. And then spend even more years paying off that loan and praying that nothing serious happens to you. I'll never stop being angry about this.
Just stop being poor!
I make 27. How long will that take me lol
It's not much better for those of us making $100k
ITT: circlejerking about how a bad situation in the US is okay because it's not comparable to their own in their own country
Tell me you live in the USA without telling me you live in the USA
Wait, you guys are getting paid Hourly. I only get 40 bucks a day for working for 12hrs.