cm0002@lemmy.world to United States | News & Politics@midwest.social · edit-222 hours ago'Doubt and hesitation' are ripping through the housing market: 'People are starting their home search, then backing out'fortune.comexternal-linkmessage-square20linkfedilinkarrow-up189arrow-down13file-text
arrow-up186arrow-down1external-link'Doubt and hesitation' are ripping through the housing market: 'People are starting their home search, then backing out'fortune.comcm0002@lemmy.world to United States | News & Politics@midwest.social · edit-222 hours agomessage-square20linkfedilinkfile-text
minus-squarebdonvr@thelemmy.clublinkfedilinkarrow-up5·17 hours agoUh, even in more expensive areas $100k down payment seems a little insane
minus-squaregrue@lemmy.worldlinkfedilinkarrow-up3arrow-down1·edit-214 hours ago$100k is 20% of a $500k house. 20% is the traditionally “normal” amount, and $500k is a pretty average price in big cities these days…
minus-squarebdonvr@thelemmy.clublinkfedilinkarrow-up2·15 hours agoI don’t think most people are putting 20% down anymore tbh. Especially not in those places
minus-squareBreadstickNinja@lemmy.worldlinkfedilinkEnglisharrow-up1·14 hours agoA lot of people put down 10-15% and pay the PMI. That’s what we had to do.
minus-squaregrue@lemmy.worldlinkfedilinkarrow-up1arrow-down1·14 hours agoOr 3.5% with an FHA loan (if that’s still a thing?).
minus-squareActuallyGoingCrazy@sh.itjust.workslinkfedilinkEnglisharrow-up1·17 hours ago100k is 6 digits
minus-squarebdonvr@thelemmy.clublinkfedilinkarrow-up5·17 hours agoRight, the comment I’m replying to is saying that 5 digits wouldn’t be enough
minus-squareExtantHuman@lemm.eelinkfedilinkarrow-up1·17 hours agoNo it isn’t. It says “who has that?”, and “what bank would approve the loan for the falling apart shack that would buy”
Uh, even in more expensive areas $100k down payment seems a little insane
$100k is 20% of a $500k house. 20% is the traditionally “normal” amount, and $500k is a pretty average price in big cities these days…
I don’t think most people are putting 20% down anymore tbh. Especially not in those places
A lot of people put down 10-15% and pay the PMI. That’s what we had to do.
Or 3.5% with an FHA loan (if that’s still a thing?).
100k is 6 digits
Right, the comment I’m replying to is saying that 5 digits wouldn’t be enough
No it isn’t. It says “who has that?”, and “what bank would approve the loan for the falling apart shack that would buy”