You can afford a home on a single income if your income is 3-4x of the value of the home, roughly.
Where I live lots of people can afford homes, but they are just super angry they can’t afford the homes that they want. They don’t want a 2bed condo for 400-500K. They want single family home with 4bedrooms that’s about 3-4x the size of the condo, even if they don’t have kids, and are outraged such homes aren’t affordable for a single person.
But also, lots of people, don’t save intentionally and still complain they can’t afford stuff, even thought they could if they did save. These are the types who argue with you that 300/mo on gyms is a necessity… but they never go to the gym.
Average annual family income in the US is around $80k/a. Are you seriously suggesting that families should be looking for homes in the $20k to $30k range? What kind of home, exactly, do you think you get for that?
Cardboard box next to the fish market dumpster.
