Most and least expensive cities

Discussion in 'General Discussion' started by drippy, Mar 15, 2006.

  1. gil

    gil Godmaster

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    Honolulu is #4 on the list. I always knew we were expensive. Sucks for the guys in New York, San Fran, and San Jose.

    The worst part is we're in the middle of the ocean, so unlike you guys, we can't just jump in our car and drive to and another state that's cheaper.
     
  2. TSFC

    TSFC Banned

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    Other than Philly, PA ain't got shit on that list. (No one wants to live here anyway...at least not sensible people.)
     
  3. XJunky

    XJunky Howdy Ho Veteran TFW2005 Supporter

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    Maybe if I had no school loans, didn't max out retirement benefits, didn't want kids and lived off of bologna and cereal.

    Using the mortgage calculator here:
    http://www.mortgage-calc.com/mortgage/simple.php

    A $600,000 30 year mortgage with an interest rate of 5.75% would cost $3500 a month for a mortgage.

    If we could come up with $120,000 for a 20% down payment, I would still have to pay $2800 a month.

    We make enough money to pay for the mortgage, but all we could have is the house between maitenance costs and basic living costs.

    ~X
     
  4. drippy

    drippy is a freethinker.

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    Debt, school loans or otherwise, obviously doen't help. Instead of putting money into retirement, why not pay off your debt and get a savings account going for a downpayment on a home? You're young and there is plenty of time to save towards retirement. (Speaking of retirement, if you have an IRA, you're allowed to take an early withdrawal of up to $10k penalty free and use towards the purchase of your first home.) Your priorities are not currently geared towards home ownership. There are plenty of exotic financing arrangements out there that allow people with your income level that have decent credit to afford homes in the price range you mentioned. Jumbo loans, no money down loans, 5 year interest only ARMs, etc.
     
  5. Omnibus Prime

    Omnibus Prime I'm too old for this shit TFW2005 Supporter

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    Huzzah for not being on either list.

    Though, I'm dubious about Houston being on the least expensive list. Based on people I know who've lived there, it's not that friggin' cheap, again, if you want to live somewhere where you won't get shot.

    What exactly do they consider a 'moderately affluent lifestyle' though? That means different things to different people.
     
  6. mrhillz

    mrhillz Changed his user title. TFW2005 Supporter

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    Hey, that's where I live! I can't believe we made a top something,,, besides what happened 8 years ago. Also, Murray, KY is only 45 minutes away; Hopkinsville KY and Clarksville TN are maybe an hour or two from here. I guess I live in the poor region of the country.
     
  7. Turbocharger

    Turbocharger We should get more letter

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    So, the closest large city near me is number 45, yet there are a ton of homeless people. Odd.
     
  8. Razerwire

    Razerwire 99 Problems... Veteran

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    I was about to say... Why the heck is Houston so low??? Is it that ghetto there or something???
     
  9. Aaron

    Aaron Master of Crystalocution Moderator Content Contributor

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    Your down payment would buy a full third of a upper mid range home here, and 400K would buy a friggin palace.

    However I'd also be willing to bet that you'd make half of what you do in NYC if you moved here.
     
  10. DevilzFan

    DevilzFan CobraIsland.com Veteran

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    Middlesex - Monmouth New Jersey $106,010

    #19...yeesh.
     
  11. rattrap007

    rattrap007 one with the Force TFW2005 Supporter

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    so glad to not be on the list.. Glad i live in the midwest.. You coasties are nuts to pay $2000 a month for a studio apartment and stuff.
     
  12. Omnibus Prime

    Omnibus Prime I'm too old for this shit TFW2005 Supporter

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    Like anywhere that big, parts of it, yeah. If you want a moderately affluent lifestyle though, I don't think $72K is gonna cut it.
     
  13. Razerwire

    Razerwire 99 Problems... Veteran

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    Yeah, it seemed that $72K seemed AWEFULLY low...
     
  14. Omnibus Prime

    Omnibus Prime I'm too old for this shit TFW2005 Supporter

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    Especially considering that you'd only have a little over $50K by the time you factor in a year's worth of gas. :p 
     
  15. Razerwire

    Razerwire 99 Problems... Veteran

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    Which is SPIKING AGAIN!!!:banghead: 

    $2.79 for premium...:banghead: 
     
  16. Nightrain

    Nightrain Senior Villain

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    I'm seriously thinking about moving to Texas just so I can afford an apartment. I'm still living with my parents here in SoCal because I was ******ed with credit cards, and can't afford an apartment.
     
  17. FreshDebesh

    FreshDebesh <b><font color=brickred>oye chak de phatte!</font> Veteran

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    I've been to Lafayette to take a board exam last year. It's a nice town. Went to Walmart and everything.
     
  18. KA

    KA Well-Known Member

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    where i live i can eat out for 2 decently for a TF basic...a TGIF run would cost me a voyager class.
     
  19. Zero Prime

    Zero Prime Windows user no more

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    I love the south, hehe. $2000 a month is about $1400 more than a high house payment here. And I'm talking 2 stories with 6 acres and a pond baby.
     
  20. Gort

    Gort Klaatu barada nikto TFW2005 Supporter

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    But you shouldn't ignore retirement when financial planning. You're young and you can put it away any time is not sound financial advice in my opinion.

    Also, the goal is home OWNERSHIP and many of the "exotic" financing arrangements are not very helpful if you actually want to pay off the house some day. It also would restrict your budget so much that it would be difficult to pay for improvements or repairs or any non-home expenses that come up. I'm guessing you believe in the own the house for no more than three years, sell it and trade up philosophy that Realtors love. In fact, I would guess that you are either a Realtor, a lender or a mortgage broker.

    It is extremely difficult to buy a house that expensive and have kids. You can't ignore everything else just to own a house. I'm going to have to side with XJunky on this debate.