ReddSaidFredd t1_jaetkxc wrote on February 28, 2023 at 10:37 PM

Reply to comment by JumpinJammiez in Need Some Advice - Best Way To Tap Into Home Equity? by JumpinJammiez

You have an unhealthy relationship with debt. Borrowing money to fix a luxury item when you owe money to the IRS is not a good look.

You are the current normal American - $500k house, two new cars in the driveway, and can’t afford to pay for the basic upkeep of your home.

JumpinJammiez OP t1_jaewdw7 wrote on February 28, 2023 at 10:57 PM

Well, the median home price in my city is $529k. In my immediate area, in a less expensive neighborhood, I could get a smaller house for 400-425k. At current rates over 3x what mine is, it'd still be more expensive, considerably.

Even if we rented, I'd still be paying $2500 or more.

The cars are 2019 and 2017. Where you can get 2 new cars for 25k each (one of which that fits 6 people) is beyond me.

Having $3k CC debt is less than 1/2 the American average.

ReddSaidFredd t1_jaezrhc wrote on February 28, 2023 at 11:21 PM

Like I said, a current normal American family. Adding consumer debt onto your pile of consumer debt so you can work until you are 70 since you will always be in debt.

JumpinJammiez OP t1_jaf06fx wrote on February 28, 2023 at 11:24 PM

So what does the average American with average credit do when their family requires 2 cars and a home in the current economy? I see you've got it figured out so please do tell.