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A comment on US homebuilding surges as coronavirus sparks flight to suburbs, rural areas. Parent comment

Re:US homebuilding surges as coronavirus sparks flight to su... by cwhiz on Friday July 17, 2020 @11:36AM (#23871669)
In Oklahoma right now you can be unemployed and earning $58,240 in annualized unemployment pay. That number will drop to $27,040 (still annualized) at the end of July unless the Congress intervenes. However, even $27k in Oklahoma would be enough to afford a small house in the suburbs of a city.
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Re:US homebuilding surges as coronavirus sparks flight to su... by rosseloh on Friday July 17, 2020 @12:44PM (#23872476)
>However, even $27k in Oklahoma would be enough to afford a small house in the suburbs of a city.

Sounds like I need to move to Oklahoma... I'm making about $44k in rural South Dakota but with the way housing prices have been around here the last few years, I am nowhere near being able to comfortably afford a mortgage (I can afford one, for a cheap, old, needs-a-lot-of-TLC-or-30-miles-out-of-town house, but not while also affording much else).

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Re:US homebuilding surges as coronavirus sparks flight to su... by cwhiz on Saturday July 18, 2020 @12:46PM (#23882660)
I have friends who live there and go on and on about the cheap cost of living. I’ve visited and it wasn’t a place I wanted to live. To each their own. It does seem absurdly cheap.
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Re:US homebuilding surges as coronavirus sparks flight to su... by sfkdjf9j3j on Friday July 17, 2020 @12:10PM (#23872054)
Do lenders let you get a mortgage if your income is unemployment payments that run out in 20 weeks? I would assume not, but maybe there are regulations that require them not to consider the source of the income if its from unemployment.
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Re:US homebuilding surges as coronavirus sparks flight to su... by nanl2053 on Saturday July 18, 2020 @06:59AM (#23880515)
It’s not unemployed people getting new loans, it’s that they can continue to pay their existing loans preventing foreclosures and a drop in housing prices. Banks absolutely consider source of income, length of employment, type of employment.
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