Potential first-time homebuyers - what can you afford in your area?

[LucyParsons]

Poll question: Potential first-time homebuyers - what can you afford in your area?

For myself, in Austin, TX, I can afford nothing, not even a condo, on my reasonably decent state government salary. Because I owe a LOT in student loans, have no savings or domestic partner, (mainly) because the price of a 2-bedroom, 1-bath condo or duplex, within five miles of my job (I am NOT willing to move to suburbs and face the resultant commute - I can currently walk to work) would be **at least** six times my salary.

[Breeze54]

1. Nada!

But the prices have always been high here. :(

[rpannier]

2. Off topic, but I found out what the origin of slumlord is

10 years ago a friend of mine got married to a woman who worked directly for the Mayor in the city of Hammond, IN.

She was telling me that a slumlord is anyone who owns at least three houses/apt complexes that they rent out.

[Breeze54]

3. I thought a slumlord was someone who neglects the property they rent out.

:shrug:

My landlord owns many properties and rents them out but he takes care of them and his tenants.

[rpannier]

4. That's probably what the definition has become

The term may have changed as time has gone on.

[Sonicmedusa]

5. I can afford a large appliance box

If I scrimp and save.

[LeftyMom]

6. Depressed prices or no, if I buy a house, it won't be here

and it won't be any time soon.

[GOPisEvil]

7. I bought a house in North Austin 4 years ago for $95k.

It's small, 2BR, 2 full bath, 1 car garage. Granted, it's now worth about $105k, give or take. I bought it, using a first time buyer's program that may or may not exist, as a single state employee. My house was a little more than double my salary at the time.

Granted I can't walk downtown, and my state agency wasn't located there anyway, but I'm 15-20 minutes from downtown by car, even at rush hour.