Americans say $74,000 a year is the ‘perfect salary.’ But that would make buying a house affordable in only two states
All the things that were taken into account, $ 74,000 a year does not seem to be a bad salary. It is about $ 12,000 more than average salary in the United States, which is enough to save $ 1,800 of rent in most major American cities.
Americans consider this amount of money the “ideal salary”, according to a modern survey of more than 2000 American adults through the research of the speakers. This is the average amount. The respondents said that they will need to be happy, and half of the respondents said that the current amount of the money they get is not enough to support their lifestyle, even outside the housing.
Although the average amount was 74,000 dollars, this is not enough to buy a house in all the United States except for two states: Western Virginia and Louisiana, according to the RealTor.com website – and even double the “ideal salary” to $ 148,000 will not get a house in every state.
“Getting” the ideal salary “may still lack a medium -price house in most states.”
The new house costs prices in the United States more than $ 410,000, and the current house will return you to more than $ 422,000, and between the American Statistics Office and the National Association of brokers data. In states such as California, Hawaii, Massachusetts, Colorado and Washington, buyers can expect more than $ 600,000 to buy a medium price house.
Assuming that you are buying a house for $ 422,000, you put 20 % traditional, and your mortgage rate is about 6.5 %, which means that you may spend approximately $ 2,500 to pay the monthly mortgage. This will be more than a third of the monthly total salary, which is generally frustrated. Most real estate experts warn against spending more than a third of your salary on housing.
But on the assumption of a $ 148,000 salary, the payment of $ 2,500 will not feel arrogant – that is, if you have the ability to get rid of the batch provided and you can even find a house that meets your needs within this price range.
The largest obstacles to us are home buyers
While a lot of housing market conversation focuses on mortgage rates-which continues to hover in the mid-6 % range-a sticky problem remains home prices historically high.
“In fact, home prices are the biggest obstacle,” said Michel Griffiths, a luxurious real estate broker with Douglas Eliman in New York City. luck. “Even if the mortgage rates drop to zero, the truth is that the purchase in the market … still requires a large amount of money in advance. The stock is narrow, and the competition is high, and therefore the cost of the property itself is what keeps most buyers on the margin.”
However, mortgage rates constitute an obstacle for some buyers-especially those who remember 3 % sub-mortgage rates in the era of the epidemic. That is why many current home owners reside in their place and refuse to sell.
“Many home owners are hesitant [to] Put their homes on the market and give up the low mortgage rates that they already have, “according to Warren Buffett from Berkshire Hathaway Homsaries.
Torsten SlØk, Apollo Global Management, wrote in Thursday note that housing supplies are fixed because current homeowners do not want to sell and take higher mortgage rates. At the same time, the demand slows because the prices of homes and mortgage rates are still relatively high. This can be somewhat good news about home prices.
“The bottom line is that there is a declining pressure on the prices of homes coming from the low demand and the increase in supply,” said Släk.
Although not much, mortgage rates are also heading slightly less over the past few months, mostly flat or slightly declining home.
Improving the ability to withstand housing costs “a possible time, will take time, [but] “For those potential buyers waiting for the margin, the housing market eventually began to listen,” wrote Mark Fleming, the Senior Economists of the Financial Services Company, “The Housing Market is eventually began to listen,” The balance of power is no longer as one side as it was during the madness of the epidemic. “
2025-09-04 15:44:00
