01-15-2019, 06:12 PM
Yeah, the whole scenario is nuts.
And just an FYI, my daughter's 17yo friend just got a job here at In-N-Out Burger working the cash register, she's going to be making $14/hr. She could easily make $16,000, save up every penny (lives with her parents since she's still in HS), do that all the way through college and save $72k. That's a pretty nice down payment for a college student. I think she could afford a house in CA or just about anywhere with that kind of cash. So obviously it's not impossible to buy a house here. And this scenario is similar to the one you used - she'd be on welfare (parents paying living expenses and college), have "roommates" (sibling and parents) and do it for 4 1/2 years or so.
I'm still not going to recommend that she move to Arkansas and buy a house after she saves up that first $16k though.
And just an FYI, my daughter's 17yo friend just got a job here at In-N-Out Burger working the cash register, she's going to be making $14/hr. She could easily make $16,000, save up every penny (lives with her parents since she's still in HS), do that all the way through college and save $72k. That's a pretty nice down payment for a college student. I think she could afford a house in CA or just about anywhere with that kind of cash. So obviously it's not impossible to buy a house here. And this scenario is similar to the one you used - she'd be on welfare (parents paying living expenses and college), have "roommates" (sibling and parents) and do it for 4 1/2 years or so.
I'm still not going to recommend that she move to Arkansas and buy a house after she saves up that first $16k though.
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COURSES: TESU Capstone Study.com Pers Fin, Microecon, Stats Ed4Credit Acct 2 PF Fin Mgmt ALEKS Int & Coll Alg Sophia Proj Mgmt The Institutes - Ins Ethics Kaplan PLA