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| Topic | Map shows how much money you need to make to buy a home in each state |
| cuttin_in_farm 04/01/24 6:48:31 PM #2: | What does this even mean.
Like, what is the time horizon of the person buying the home? Is it by a certain age? Is this assuming a minimum amount of expenses while saving? The prompt doesnt make sense. Keep in mind the study only considered the costs of securing a manageable mortgage payment (which includes principal, interest, property taxes and property insurance). Manageable means it wont exceed 28% of your gross household income. The analysis did not factor in closing costs or the costs one incurs as a homeowner after you get the keys to your new house. Like, wont exceed 28% of gross income is a shit metric because people exceed that paying rent. A lot of times paying rent is higher of a monthly expense than a mortgage. --- A show of kindness may not do much help, but a show of cruelty may do much harm. ... Copied to Clipboard! |
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