Matthew Gardner, the Chief Economist for Windermere Real Estate, tells KIRO 7 that households with an annual income of $150,000 may qualify for a loan between $550,000-$570,000. In his words, “that doesn’t get you far in Seattle.”Well, many things control the market in Washington, but the biggest culprit? To put it simply, there’s more people and less land. Gardner adds, “when you limit the amount of land, that just forces home values up.
But really, no matter where you sit on the pay scale, Gardner says a good start to the homebuying journey is simple: save your money.
If your making 110,000 a year and can't afford a 700,000 home then your not very good with money.
Is anyone else doing the math here? 'I make little money, but can sell for major equity'....? And maybe move somewhere better for my kids and cost less money? Jesus, spoon feed you facts.
THEN SELL YOUR HOME & TURN A PROFIT. Sell, turn a profit, move to a lower-cost area & lower crime area. Give your kids a chance for a future. We can't hold your hand for every step. Try doing something to better your life.
$110k for a single person? Or is that Household income?
This is true
You can't find a home under 950k worth purchasing for that price.
Seems totally sustainable.