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Real Estate
Reply to "Who can afford 800K-1M homes? Genuine Curiosity!"
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[quote=Anonymous][quote=Anonymous]Also think about it this way. Once you reach a certain income spending 40-50% on housing isn't that big of a deal. If I make 100k a year spending 50% of my housing would leave me only 50k to live off of. If I have 250k a year spending 50% of my income would leave me 125k a year to live on. [/quote] Well, and also: A salary of under $300K and a mortgage of over $700K doesn't equal paying half of salary to mortgage. Or even 40%. We have HHI of just under $300K and mortgage of $750K, and our payments are less than 20% of our gross income, less than a third of our take home (after maxing out 401k). 30 years at crazy-low rate![/quote]
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