General Discussion
In reply to the discussion: it will take 29 years for college grads to save 20% down on SF home, study shows [View all]Igel
(35,309 posts)Not housing in general.
20% down? That's hefty. But I guess if you don't qualify for some types of loans that's what you're stuck with. There are two ways to not qualify: The first is you're credit rating sucks. The other is that the loan's too big.
Got 3%, you qualify for FHA loans. Unless your house costs much more than $400k. Ah. SF in a nutshell: Housing prices are too high.
Response: Don't live in SF, but buy elsewhere.
Problem: The SF area is crowded, congested, and expensive both because it's desirable, because there are a lot of high-paid people, and because land's scarce or land-use policies restrict building to protect quality of life for those already there. No good solution to that, however.
Response: Don't live in SF, buy elsewhere.