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A comment on Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring. Parent comment

Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by anonacct37 on Monday October 23, 2017 @01:38PM (#15535097)
> only 100k down

I'm going to need a minute to let that sink in.

[ Parent | on HN ]
Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by adventured on Monday October 23, 2017 @02:26PM (#15535597)
The median new home sale in the US is around $310,000 for 2017 so far (the average is closer to $360,000).

20% * $310,000 = $62,000

Emphasis that that's just the median down payment for a new home in the US today.

The median existing home sale is closer to $250,000 for 2017. So you're looking at a $50,000 down payment just at the median.

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Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by FireBeyond on Monday October 23, 2017 @03:30PM (#15536218)
Yeah, not so much any more. Most mortgages being underwritten today are with downpayments in the 3% to 5% region, trending down from under 10%.
[ Parent | on HN ]