Question for all: How many own their own homes?

[4_2_it]

I own my house. My remaining mortgage is probably about 40% of its value.

If you want macro stats, follow Zeno's advice and go to the Census website.

[samjjones]

I own my house. My mortage is about 17% of my monthly gross income.

[Acein8ter]

I purchased a home in 1997 after living in a condo for a little while.

[cbloom]

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If I bought the place I live my mortgage payment would be like 3X the rent.

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? I don't see how this could possibly be true. Are you talking about the rent from 1 apt and the mortgage for the whole building?

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I lived in a house that cost $800k to buy. I paid 1300/month in rent. Typical mortgage payment would be something like $4500 unless you go interest only or something crazy. That was a little bit of an extreme case but is not that far off average in the hot spots of CA. (it was exaggerated because the house itself was a bit run down which pushed the rent down, but the cost to buy reflects the value of the land)

[limon]

i dont spend anything on my home. my renters do. imo your first purchase should be a duplex or better. why pay a mortgage when your neighbor will pay it for you?

[CCass]

My wife and I own our house. Mortgage free for the last 8 months and it feels great.

[wdcbooks]

We own our house and pay about 20% of our gross income towards the mortgage payment.

Such is life in the DC suburbs.

['Chair]

Rent for 8% of monthly gross income (really cheap rent...not paid super dollars). Looking to purchase a townhouse by the end of the year...maybe q1 08.

[BadBoyBenny]

I spend 25% or so on rent and get cable + internet + gym included.

Will be moving to a different city and buying in the next 12 months.

[jzpiano]

I currently rent, but will be buying in a house in 6 months.