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Help me understand. An average mortgage is 200k, at the average household income of 63k and a 30 year at 4.1%, thats 18.5% of your pretax income going into a mo
by xnyan 6y ago
Help me understand. An average mortgage is 200k, at the average household income of 63k and a 30 year at 4.1%, thats 18.5% of your pretax income going into a mortgage. The same numbers for a 300k income and a 700k house works out to 13.5%. Seems like you are doing significant better than most? Happy to be corrected.
- missedthecue 6y agoYeah I'm not sure what he's talking about either. $900k home on $300k income is entirely reasonable and a better ratio than what the average person does
- mistrial9 6y agono employee making $300k per year in California gets to keep that amount.. tax rate is 40% + overall last I heard, differing slightly by county and tax details
- s1artibartfast 6y agoI’m not sure what part about a a 900k house inflated due to NIMBYism and stupid policy choices is reasonable. If OP feels the main entering the bottom of the market with their exorbitant salary, imagine how the the average person feels.
- ak217 6y agoThey might be able to afford a house, but the community around them will not (the average household income in San Diego is around 100K, not 300K). By pricing out young people and stunting their communities, California NIMBYs reduce opportunity and social mobility. The ultimate result of the totality of California housing policies is that California senior homeowners transfer resources from the rest of society to themselves while reducing quality of life for everyone else.