Housing here is ludicrously expensive - it's the most expensive city in the country, as far as I know. I read an article that summed it up simply: A study was done to compare the cost of living in Houston to the cost of living in NYC. A family in Houston who has all the luxuries afforded by an annual income of $50,000 would have to earn just under $90,000 to have the same luxuries, such as they are, in NYC. And I don't make $90,000...I make $70,000 - so I figure I'm roughly the equivalent of $40,000 in Houston, which is a city and therefore itself more expensive than many other places.
As to 1...I think the loan officer wouldn't mind me putting less down, but the Co-Op Boards at these buildings don't want to accept applicants in to the buildings that don't put 20% down. :(
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timeasmymeasure
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Date: 2009-07-09 11:59 pm (UTC)As to 1...I think the loan officer wouldn't mind me putting less down, but the Co-Op Boards at these buildings don't want to accept applicants in to the buildings that don't put 20% down. :(
2: Thanks! That's good advice.