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Reply to "Are YOU able to keep your housing expenses at or below 28% of your gross pay?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] :shock: [quote=Anonymous][quote=Anonymous]I can now but remember when it was not the case....[/quote] yes roughly 55k gross monthly income mortgage 5,600 or 10%[/quote] :shock: If you could not I’d be more concerned. [/quote] NP. Does the 28% rule actually make sense though? It seems so random and arbitrary. At an HHI of 600K, that's $14k/month. No way I'm spending that much on housing! [/quote] The 28% rule of thumb is on net income, not gross.[/quote] It's on gross. E.g. https://www.cnbc.com/select/what-is-the-28-36-rule-for-buying-a-home/[/quote] That doesn’t make mathematical sense, even if CNBC says it does. You can’t live off your tax payments.[/quote]
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