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[quote=Anonymous][quote=Anonymous]Had dinner with a coworker. He shared that his mortgage and taxes are $5500. He makes about $150K and his wife about $200k. In other words, nearly his entire salary is eaten up by the mortgage alone. I make $200, my wife $100, and my mortgage and taxes are $2200. Granted they have a high income but I was still kind of dumbfounded. Do people really lever this much? It seems so high risk. [/quote] They makes a combined $350,000, or more than $29,000 per month. Even if you assume 40% withholding, that's $17,500 per month. That's $12,000 left over. Hardly having his "entire salary eaten up." Or are you so out of touch that you believe that people simply cannot squeak by on $12,000 per month? [/quote]
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