PSE Zone 13 Survey, CWU Responses
I have definitely had to cut back just to maintain the lifestyle I desire for my family. "If you own a home: Would you be able to afford to save and purchase the home you're currently living in on your current salary? How long do you think it would take? If you do not own a home: Would you be able to afford to save and purchase a home in the area you currently live in on your current salary? How long do you think it would take?" No. Never. I could not buy a home. I own the home I have now because my mother died and left me her home, which I sold in order to purchase this home. If I had not inherited that home I would not have been able to afford to rent I do have the ability to save for a home right now that I know of. Yeah probably. I think it would take over twenty years. I bought in 2007 and could not buy today. No way. With inflation and higher interest rates there is no way we could afford this home now. We budgeted that we would have $800-$1000 extra a month for savings at that time. But the reality is that after inflation and the rising cost of everything, we often dip into our savings. No, maybe 15 years realistically I own my home. I’ve been in it for 16 years. In today’s market I wouldn’t be able to afford to purchase it. No Home owner. To purchase my home in the current market would take 2 year salary down payment and 88% of my take home pay, or 1 year household income and 50% of take home. In
no way are our earnings close to a 'living wage' in this community. There is no chance, so I don't consider how long it might take
We own our home and can't do home improvements like roof replacement. We tried looking at larger homes (ours is 950sq. feet) and everything we see is in the $450k range. Crazy! We purchased conservatively, however with the high interest rates I wouldn’t be able to. I am expecting a 4th child, and we desperately need more space, but we can't do that until interest rates come down.
October 24
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