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Reply to "Who can afford 800K-1M homes? Genuine Curiosity!"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I work in foreclosures I daily see people with 700K mortgages getting thrown out of their homes despite their 250K salaries. Looking at people's financials, most can at MOST sustain their expenses for 3 months after a job loss. Overwhelming all of these people losing their homes have kids. They are digging into their retirements just to stay aflot. I think people severely underestimate what happens when someone gets sick or loses their job, only to have to take one for less money. People get crushed with taxes, utilities, and a certain lifestyle they are maintaining. They are living a lie, lying to themselves and eveyone else. Being in banking, truly, the solid people taking out 700K mortgages actually have incomes in the mid 500s, few and far between do we see people riding the edge of their front and back end ratios. You are certainly NOT in the majority if you have a sub 300K income and a 700K mortgage, you are the exception to the norm.[/quote] you do not work in banking. this post is a lie.[/quote] Agreed. i don't believe that for a second. Plus, he/she can't spell "afloat"[/quote] And why exactly does that make a difference? Spelling doesn't have anything to do with math. [/quote]
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