Re:A national housing crisis is brewing
by shados on Thursday January 03, 2019 @03:45PM
(#18819108)
That's easy. Depending on the interest rate, condo fees, taxes, etc, a 1 million home is about $4500 (less when the interest rates were lower, I think).
If you have a couple of DINKs, it's 2250 per person per month, or about $27000/year. 150k/year per person, about 90-100k/year after tax, and that's well under 30% of your take home pay.
I used round numbers and I'm probably off, but even if you have to tweak the math, it's pretty easy to see where people are coming from.
When I was looking to buy in the area, a bunch of people looking at the open houses were couples with both people sporting their Amazon/Microsoft/Google/whatever backpacks or jackets.
If you have a couple of DINKs, it's 2250 per person per month, or about $27000/year. 150k/year per person, about 90-100k/year after tax, and that's well under 30% of your take home pay.
I used round numbers and I'm probably off, but even if you have to tweak the math, it's pretty easy to see where people are coming from.
When I was looking to buy in the area, a bunch of people looking at the open houses were couples with both people sporting their Amazon/Microsoft/Google/whatever backpacks or jackets.