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Money and Finances
Reply to "am i insane for considering this? 820k mortgage on a 240k income"
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[quote=Anonymous]Why lock yourselves into the high-end housing costs and thereby lock yourselves out of all the other decisions you might want to make over the next 20+ years? It's the equivalent of signing a contract to eat at Ruth's Cris every night. Sure, it'll solve your daily need for food, but you could also do it at a much lower price day after day after day. Why lock in the Ruth's Cris price point of housing? You don't need to buy the McDonald's version of housing, but maybe shoot for something that is a better match for the needs of a 3-person family. A better value for 3 people is not spending $1 million on housing needs. It's these kinds of "big" financial decisions that lock you into other financial outcomes later on. No financial decision can be made in isolation. If you buy the high end version of housing, then you can't also have X, Y, Z. I suggest you think about financial decisions in a more global sense. "Your Money Ratios" Charles Farrell. [/quote]
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