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Originally Posted by JBinKC
With all of these extremely high home prices on the coasts and mountain areas. I would think you would have to have a very high after tax income to justify buying a home there now. Home prices are triple or more than of a similar one in my location but I highly doubt people have triple the income to support them. Personally, I would leave the area and find a another job in a lower cost of living area where a 10-20K cut in salary will actually give you a much higher overall standard of living.
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I agree with this point as well - been there done that.
Actually, all I heard was 10 - 20% pay cut when we moved and it turned out to be 0. Someimes those are exaggerated. I got paid the same plus better benefits - all that and houses were 1/3 as much. Not that that is always the case, I could care less of the pay drop when looking at houses we could actually afford.
Because of this I am always telling people to move.
Sorry I don't know much about construction loans...