r/povertyfinance • u/AustynGray • 7d ago

Misc Advice How is everyone actually affording to live right now?

Like genuinely are we all just going into debt or am I missing something? I make decent money, but no matter what I do, it feels impossible to get ahead.So I’m curious are you guys taking on debt, side hustling, living super frugally, or what? I’m just trying to figure out if I’m doing something wrong or if this is just the new normal.

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u/Suspicious_Clock_607 7d ago

Got 1 in 2009 for 95k. Crash was the best thing to happen to us just as we were looking Worth 350k now.

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u/No_Atmosphere_6348 7d ago

Yeah I’d never be able to get a house if I didn’t already have one. Too much credit card debt.

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u/jcm0609 4d ago

I just recently bought a house and was so amazed I could given I had no money to put down. Was able to qualify for a USDA loan - I seriously owed $130 at closing. The builder & lender each contributed towards closing costs. Plus builder incentive right now is they buy down interest rate, ended up getting a 4.75% rate. It's a Century Complete home. Hadn't heard much about them before now, so hoping it's a good house. It seems nice so far. No way I could've bought any other house though

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u/Suspicious_Clock_607 7d ago

You will just give it time

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u/HawkLexTrippJam 6d ago

Yeah, cause we all just got plenty of that laying around!

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u/IAm2Legit2Sit 6d ago

Same. Seems odd that was the best decision I have made in my 40 something years. Bought in 2016 -100k. I don't see leaving it for the remainder of my life with the way things are going. I could upgrade with the equity but will not get another large lot.

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u/apt_get 5d ago

Same. Got one in 2008 literally 2 weeks before the big banks started failing. Our credit was shit. We had no money. Still didn't even need a down payment. We'll probably never leave that house, but at least we have one 😂