It wasn't explicitly mentioned, but I assume they are referring to a percentage of gross income, not net (after taxes) income? 50% of gross is gigantic, which w

It wasn't explicitly mentioned, but I assume they are referring to a percentage of gross income, not net (after taxes) income? 50% of gross is gigantic, which would be a much higher percentage of your take-home pay. I remember as a student in NYC many years ago, some friends would spend about 70% of their take-home pay on rent, which on average would probably be half their gross, give or take. So I guess the numbers make sense, but that is still hard to imagine.