How to Buy a House In a Ridiculously Expensive Area

buy a house in an expensive area

“Seriously Derek… All your posts talk about people buying houses for $100k and $150k. What kind of fairy tale land is this? I live in California where the cheapest house known to man is $700k. How in the heck can I afford to buy a house?”

If you live in New York, Boston, Seattle, San Francisco, San Diego, or any other ridiculously expensive area, then this post is for you. Because today, I’m going to show you how it’s possible to purchase your very own house on almost any income.

Want to buy a house in an expensive area? Step right up and let’s get crakin’.

How to Buy a House in an Expensive Area

Let’s say that you have your heart set on buying a house (and you absolutely refuse to move to a lower-cost area), what all can you do to make it happen?

The Rules of Buying . . . → Read More: How to Buy a House In a Ridiculously Expensive Area

Is It Time to Purchase That House? A Historical Comparison

The housing market has certainly gone through its ups and downs in the past 10 years hasn’t it? From the year 2000 through 2006, houses skyrocketed in value, causing many individuals to jump into property ownership, certain that they would make a profit on their investment. Well, much like the tech stocks, the bubble inevitably burst. In 2007, the sub-prime mortgage market became an issue, putting a strain on banks all over America. Banks were forced to repossess many homes due to unpaid mortgages and the value on properties began to crumble. Currently, the property values appear to be at an all-time low. So how does home ownership compare to 10 years ago? Is it really a good time to buy?

Upon embarking into the new millennium, the mortgage loan rates were not at a historic high or low. They could best be classified as ‘moderate’ with 30-year rates at . . . → Read More: Is It Time to Purchase That House? A Historical Comparison