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TopicHow likely is it for anyone to buy a house in a high cost of living area?
YoBlazer
05/12/24 4:09:32 PM
#2:


Incredibly difficult, and I'm seeing that indirectly because of my sister's current situation. She's moving her family across the country from northern Virginia (expensive) to San Diego (extremely expensive). She's a pediatrician and will gross about 290k in SD. Her husband works in a specialized government role and grosses about 170k. That's a married couple grossing a combined 460k, and they're still stressing about how they can make San Diego work financially. Decent homes are going for about $1.5 million there, and with current interest rates, you're looking at monthly mortgage payments will in excess of $10,000. They also have three kids, at least two of whom will require daycare, and that will likely run... like another 4k per month.

So yeah, they'll feel the squeeze even with their high salaries. It's so, so hard for families with children to make something like this work.

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Burnin, Blazin
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