4 ms·
The median monthly mortgage payment in the US is $1200, which means half of them are less than that. Not everywhere is the Bay Area or other super high cost of
by ac29 6y ago
The median monthly mortgage payment in the US is $1200, which means half of them are less than that. Not everywhere is the Bay Area or other super high cost of living areas. (And yes, I realize a mortgage is not the only cost of owning a home)
https://www.census.gov/programs-surveys/ahs/data/interactive/ahstablecreator.html?s_areas=00000&s_year=2019&s_tablename=TABLE14B&s_bygroup1=1&s_bygroup2=1&s_filtergroup1=2&s_filtergroup2=1&s_show=SO https://www.census.gov/programs-surveys/ahs/data/interactive...
- krapp 6y agoYeah, when you add up all of the actual costs, you still have to be lucky enough to find an affordable property, have good credit and have significant savings set aside beforehand, and then you'll be living on margins so thin one bad accident or unplanned expense will be catastrophic. It's certainly not true that a $15/hr wage at an Amazon warehouse alone can "very much" support the "extremely high standard of living in the US" mentioned upthread as a general statement of fact.
- virgil_disgr4ce 6y agoThe problem is the capital. Poor people don't have capital, they live paycheck to paycheck. Nobody is buying any mortgages without a down payment.
- virgil_disgr4ce 6y agoWhy on earth did this get downvoted?