How Do People Afford It?

So I'm really puzzled about something.  Mark and I have been looking at houses for sale on the internet in Chicago and in the suburbs, and if we are in the x% of income earners in the country, how in the world do so many people afford these house payments?  If x% makes LESS than we do, then  where are all of these people getting this money to buy these houses?  I'm starting to think the whole "1%" thing is a total lie, and the numbers they give for that are far fetched.  We have no credit card debt, just two car payments.  I've always heard you shouldn't spend more than a third of your income on a monthly mortgage, so there is no WAY people are doing that.  I think a loan officer will approve up to 45% of your income for a mortgage payment, but who would want to do that?  Pay for a house every month, your bills, and have nothing left over to go out for dinner or buy clothes or?  Perhaps we have a few expenditures that some people don't like maid service and lawn maintenance, but that's not THAT expensive.  I suppose they could be putting down a huge down payment, but wow, that's some down payment.  And Mark said some of his friends in Chicago  were complaining that the housing market had depreciated in some areas by 50%.  Really?  All of a sudden, I don't dislike Texas at all!  It seems pretty nice and affordable!!!  I will say I definitely appreciate what I have right now!

So I suggested to Mark that maybe we should rent in downtown Chicago until I finish school - do the whole downtown thing - get that experience.  Once I get a job, we'll be able to afford a much nicer house.  That will be a whole extra income added that won't be needed for anything.  I don't mean use it all for a house, I need to save as much as possible for retirement, will have a school loan to repay, etc. etc., but that will definitely help.  Chicago is an expensive place compared to where we live!

School is going really well - I just have one more test to pass until I'm in the next speed, and I should pass it any day!  I keep thinking "today is the day!"  It also seems like I'm close to passing the next speed in Q&A and Jury Charge.  I still wish my friend wouldn't have quit, but my other friend in school said she was very discouraged when she talked to her.  I so get that, I really do, but for me,  there is no option, I have to finish, I can't get so discouraged that I quit.  What else would I do?

So..just waiting to hear on the relocation package to Chicago, I have no idea what it will be, if it will be anything.  I go in spurts where I want to move, then I don't want to move.  I would like my little dog to have a yard, although I don't know how much he cares.  He's allergic to pollen and has to take medicine all spring and summer.  There are lots of parks in Chicago to walk him though - he would love that.        

2 comments:

sara Wistie said...

Hello!

I think it is funny how after a certain point in ones life we just do not make friends like we did when we were kids. I cannot pinpoint it down to a certain date or time in my life but it just sort of happened. I have all my old friends from my life but we just do not stay in contact like we used to anymore, only the occasional email or message now. To be honest My friends from way back I just have about zero in common with them now at this point in my life and we have all moved on I guess. How is that for about as deep as a puddle LOL! I wish you well in Chicago it is a great city! I lived there for 10 years and now I only live up the road in Milwaukee and come down all the time for all the city has to offer. Yes it is pricey all the way around and you may feel a bit run over at times but it does have numerous charms. The Art museum is amazing and the mile has amazing shopping you can get no where else in the world. I also admit I miss delivered Thai food at 4am LOL! I am going to add your blog and check in see if you would need any advice from a city girl like me. It would be my pleasure. Regards, Sara

KansasSunflower said...

That's funny, Sara! Yes, I would love advice from you about Chicago, anything and everything you care to share! : ) It's so true about friends as you get older, I wish it wasn't so. We still need friends as we age, why is it more difficult to make them then? And I'm the same - I don't have much in common with my old friends either.

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