General Discussion

SoCalDem

(103,856 posts)

36. DTI is a killer for a lot of people

Mon Nov 3, 2014, 06:25 PM

Nov 2014

(debt-to-income) ratio..

When almost all of your anticipated income is being eaten by monthly bills like car payments, student loans, credit card payments, most cannot qualify...

add that to multiple jobs over a few years' time, and you have little chance of qualifying for a loan.

Parents/grand parents are no longer able to "loan" that all-important down payment that many younger people lack.

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First-time home buying hits lowest level in nearly three decades [View all] steve2470 Nov 2014 OP

I will never own a home... PasadenaTrudy Nov 2014 #1

Think trailer Warpy Nov 2014 #4

I love my apt.... PasadenaTrudy Nov 2014 #9

Trailers in northern climates suck for heating, though NickB79 Nov 2014 #31

You have to pay attention to zone when you buy Warpy Nov 2014 #34

I'll never own either tabbycat31 Nov 2014 #41

Exactly PasadenaTrudy Nov 2014 #49

I rented for a long time and it's most assuredly less stressful most of the time scarystuffyo Nov 2014 #12

I don't make enough money PasadenaTrudy Nov 2014 #15

I read your post after scarystuffyo Nov 2014 #17

I'd have to move PasadenaTrudy Nov 2014 #18

Just to give you a laugh... PasadenaTrudy Nov 2014 #20

incredible nt steve2470 Nov 2014 #21

Lol, here's another, a recent sale PasadenaTrudy Nov 2014 #32

even more incredible steve2470 Nov 2014 #35

Such a difference PasadenaTrudy Nov 2014 #37

That's crazy scarystuffyo Nov 2014 #24

This is why I hate it here PasadenaTrudy Nov 2014 #25

No way would I buy waterfront now n2doc Nov 2014 #44

That house probably would not sell for 175k here. Travis_0004 Nov 2014 #28

I believe it PasadenaTrudy Nov 2014 #29

My daughter and son-in-law live in Los Gatos Adsos Letter Nov 2014 #38

San Francisco.... n2doc Nov 2014 #45

SF is the craziest PasadenaTrudy Nov 2014 #48

I would love to own one of the tiny homes that are gaining in popularity. AngryAmish Nov 2014 #43

Asked a friend who is a real estate agent about this - The Velveteen Ocelot Nov 2014 #2

I think your last point is very important steve2470 Nov 2014 #3

I think it's the last factor more than the first two Warpy Nov 2014 #5

DTI is a killer for a lot of people SoCalDem Nov 2014 #36

I think they saw everyone get screwed during Bush's sub-prime/recession disaster. tridim Nov 2014 #6

CA is crazy as ever... PasadenaTrudy Nov 2014 #7

yep, that's why I didn't move to CA nt steve2470 Nov 2014 #8

I'm just here by default PasadenaTrudy Nov 2014 #11

People ask to rent my house all the time madville Nov 2014 #10

Inability to pay hits highest level in 30 years. hobbit709 Nov 2014 #13

who has the money to buy a home these days? Marrah_G Nov 2014 #14

And money to fix things, PasadenaTrudy Nov 2014 #16

You have it right. The problem is low wages. Skeeter Barnes Nov 2014 #27

First-time buyers need modest, more affordable "starter homes." We're not building those anymore. Gidney N Cloyd Nov 2014 #19

good post ! nt steve2470 Nov 2014 #22

In my town PasadenaTrudy Nov 2014 #23

Pasadena's media household income is $67,920, almost the same as my town near Chicago. Gidney N Cloyd Nov 2014 #26

I'm in PasadenaTrudy Nov 2014 #30

Well, let's face it, not all towns are where you look for starter homes. Gidney N Cloyd Nov 2014 #33

Well said! People have come to expect a lot more house now. WHen I was a kid, I knew raccoon Nov 2014 #46

IMO, it's the new life style, temp labor and no job security. Under 30's are living out of a go bag. CK_John Nov 2014 #39

Yeah.. PasadenaTrudy Nov 2014 #40

In the boston metro area starter homes are around 400K. Warren Stupidity Nov 2014 #42

Owning a home is not what it used to be in many respects. kelliekat44 Nov 2014 #47