Mortgage Test Results

So it looks like I’m not going to be able to afford a house in Tremont. With only one exception, every house that I researched [about 2 dozen] would sell for significantly more than what I can get a mortgage on. There was one house on Auburn, purchased in 1997 for $13k, that was sold in 2004 for $134k. It appreciated 10× its original value in less than ten years. The current owner is probably trying to flip it for another $20k or so. Many of the properties that are for sale are owned by the same people. Two folks in particular had 3 or 4 properties on the market. Not that any of this matters, I don’t want a house until I have a better source of income.

4 thoughts on “Mortgage Test Results

  1. How do you find out what you can afford mortgage-​wise? Not like I can afford NY real estate sales, but just curious…

  2. You can help be a charter member of my renter-​for-​life group. Though for me it’s by choice, I promise I won’t hate on you when you finally buy.

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