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Comment by jdhn | Hacker News Reader

>Do you know how long it takes to save for a downpayment on $150k?

Tell me you live in the Bay Area without telling me you live in the Bay Area. Snark aside, unless you have massive debt, live in an expensive metro area (SF, LA, NYC), or a combination of both, if you can't save up a sizeable down payment while earning $150k then that issue is on you.

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I live in NJ. I can't afford a house with a $200k+ salary because every house that's even half-way decent is either outside my price range or is bought up in cash above asking price.

Must be nice to be so cushioned from reality.

If OP is cushioned from reality, you are traveling through a wormhole in another plane of existence entirely. 90+% of people buying homes in NJ are going to have a lower household income than your personal income. Somehow, they make it work.

Sorry this is BS. 500k will buy you a 3 bed house in most NYC commuter towns. I've never made $200k and I can easily afford it.

OK I'm getting downvoted. If you downvote me find me a town outside of Alpine/Rumsford that you can't buy a house <$500k.

Wow I didn't realize how many real estate agents were on HN, amazing.

Can you also show me towns that have good schools? How about ones where cash offers above asking price aren't immediately considered?

Sorry, but what you wrote is complete BS.

Jesus nearly all suburbs you can get a 400k house. Livingston, Cranford and Oradell have top school systems.

Cranford: https://www.trulia.com/p/nj/cranford/10-elizabeth-ave-cranfo... Caldwell: https://www.trulia.com/p/nj/west-caldwell/49-lane-ave-west-c... Oradell: https://www.trulia.com/p/nj/oradell/53-beverly-rd-oradell-nj... Teaneck: https://www.trulia.com/p/nj/teaneck/37-elmer-pl-teaneck-nj-0... Livingston: https://www.trulia.com/p/nj/livingston/1-stoney-hill-pl-livi...

Even Summit is $499k https://www.trulia.com/p/nj/summit/32-glenside-ave-summit-nj...

I'm going to let you in on a little secret. You ready?

Everyone's needs are different.

Interesting right?

In that case you need to look harder, our outside your current area. I'm from Jersey, $200k salary should give you lots of options especially in central or south Jersey.

Thanks, I'm cured.

Ever consider people have families? Have families they're planning on having?

Yeah, moving to central or South Jersey wouldn't work. That's why I live where I do now ...

Keep preaching from that ivory tower of yours

I find it hilarious when people who make twice as much as me talk about how I'm "preaching from that ivory tower". Have you looked at condos? Townhouses? The idea that you are constrained by your salary is ridiculous. You are constrained by supply, nothing else.

Grew up in central Jersey, I would have no issue raising my kid there whatsoever.

Cool. My family lives on LI and my other half of the family doesn't live in Central Jersey.

I swear, everyone posting with "BUT I CAN AFFORD IT" is absolutely tone deaf to the US housing crisis we're in.

I think the point is that there are plenty of generally desirable places to live where you can reasonably make a down payment on $150k/yr. You personally have chosen to rule out those places, for reasons that are good ones for you. That's your choice to make, of course, but you've decided you'll only consider the most expensive places in NJ to live, and many people will not do that.

(But man, have things changed. I grew up in central Jersey in the 80s, and back then no one of any means wanted to live across the Hudson from Manhattan. Nuts to see that now many people are priced out of that area.)

I live in Vancouver, and houses here cost $2 million if you want something approaching decent. The median income here is under $100k. Are you going to tell me this is fine?

> live in an expensive metro area (SF, LA, NYC)

+ Seattle, Vancouver, Toronto, Miami, Austin, Tokyo, Berlin, Paris, Amsterdam...

Pick any large city worldwide, and they are "expensive metro areas" with a high cost of living where if you want a 2 bedroom condo you're looking at 750K, and a house is 1M.

Turns out software multi-nationals paying $150k+ are in the same cities.

So, you do the math, how long does it take to save up for a down payment while paying through the roof on rent?

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