No. of Recommendations: 0
I live in the Boston area & this situation has hit me. In 1998 I started saving for a house. Then Houses where about $180,000. Since then I have saved up $120,000. I was single, had a cheap place to live, with a relative. Good situation to sock away some money. Now I am ready to marry & buy a house (been dating a women for a few years - a student with no income). Same houses that in 98 were going for $180000 are now $580000! For all my saving - I am behind in a big way. I cannot leave my state, my job is here, and our family is here. With my income (which is close to the median for my state) I can only afford a mortgage of $220000. Which is why more people left this state this year than entered it? Tough place for couples starting out. With houses in the $500000's the only possibility of me getting a place is a very small house or a condo. My girlfriend is pregnant & has 2 kids from a previous marriage. So I save - and hope the housing market gets better. Saving for a house in cash used to be doable it is not now. Oh & by the way - my FICO score is 800.
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