Yikes! This reflects a question I have about promoting downpayment assistance for first-time homebuyers in the Bay Area. If most of us don't have the income needed for a mortgage, even with 20% down, can downpayment assistance really work?
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It is probably helpful for some categories of workers. The other thing about this chart is a household taking on this level of debt has to feel confident that it can continue earning this level of income for the following 30 years.
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Santa Clara is likely being pulled down the list by the relative affordability of south county.
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What’s the number for manhattan I wonder?
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Proportionally compare Median Home Values in Zillow, you could assume that the Minimum Qualifying Income to Purchase are: -SF: $343K ($1.4M) -Manhattan: ~$343K ($1.2M - but Manhattan data is screwed up/opaque) -New York City: $165K ($674K)pic.twitter.com/695gnSWqep
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Holy SHIT !!!
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Amazing stuff!
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Where are the numbers/synced with the bottom 10-15% of the sale price of homes. Don’t know(think) I’m asking the question correctly
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Is it bad that this actually seems...less worse than one might assume? East Bay starter homes are definitely dropping compared to 2 years ago.
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Where can you buy a home in SF for $343,000?
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