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Reply to "If your HHI is $250-300k, what is your PITI?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]All the old people chiming in [/quote] yes, this is a parents forum and many of us bought when our kids were infants and we wanted more space. now it is 10 years later and we literally answer the question posed. not all of us moved, most of us moved up the career ladder, nearly all of us have 2-3% mortgages. Housing in DC has appreciated on average 50% nominally since 2014, but single families have appreciated even more. So those 2000-3000 PITIs represent a house today that is over a million, but was bought 600k maybe with 5%-20% down - potentially on slightly lower incomes. when we bought we were at 25% of incomes, now we're like 10-12%. We've refinanced and our incomes have simultaneously gone up. This is a pretty standard lifecycle trend. Now some people did move and upgrade homes, but median homeowner tenure is 10 years, so many are still in their first homes.[/quote] So tired of the holier then thou old people [/quote]
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