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If she can afford payments on a $400k mortgage (around $3k/month or so?), then yes, she is (or was) wealthy by the standards of the vast majority of America.
by jdminhbg 16y ago
If she can afford payments on a $400k mortgage (around $3k/month or so?), then yes, she is (or was) wealthy by the standards of the vast majority of America.
- mattmiller 16y agoYa, but she is in California. Her costs are much higher and I bet she does not feel wealthy. An American homeless man making $5/day in change is wealthy compared to much of the world.
- izend 16y ago$400K mortgage at 5 year variable of 1.90% and 25 year amortization is only $1,674 per month. This is exactly why low interest rates are quite dangerous...
- xsmasher 16y agoShe has more liabilities than assets. She may have a high net income, but she's not wealthy.