return2ozmaAmericans Are Falling Behind on Their Car Payments
BombOmOmdata from Edmunds says a record 17.5% of borrowers have payments of $1,000 or more
That is a crazy high number. You are approaching mortgage territory there (yes, mortgages can be that price outside of cities). People need to stop spending so much on cars. They do not retain value.
Apathy TreeThat’s $400/mth more than my 2013 mortgage, and you can get a property at the same I paid for mine in 2013 now, just in Indiana instead of Wisconsin.
I’ve thought about relocating because my property is now worth 3x what I paid, and that’s about the only option I have to net any perk from selling, but I don’t want to move somewhere that gets droughts in the best of times, much less with climate change.
But for someone who just wants a place? There are some, and they all come with drawbacks.
toryYou think people can get $600/month mortgages in this economy? You seeing a ton of homes in Indiana for 75k?
Because at 8% interest, that’s all you’re getting for $600/month
Yes, that’s my point. Look at the housing market in Indiana. There are lots of properties under 75k.
They aren’t better than the place I live now, but they also aren’t worse.
The only kind of place you’re getting for under 75k in America is gonna be 100% pictures taken from the outside by a bank representative as they try to foreclose on a very poorly located hovel.
But sure, gl with your mystery box fixer upper.