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[quote=Anonymous][quote=Anonymous][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. [/quote] His net income is probably around $9K. Why do you consider $5.5K an incredible amount of money, but the remaining 3.5K so de minimis that you rounded it to zero?[/quote] I think people should look at their mortgage as a percentage of their "replaceable" income - i.e. if you lose your bigwig job, how fast could you really find a net income of 9k on a monthly basis again? [/quote] So people with one spouse at home should never buy. [/quote]
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