4 ms·
Well below that.. and my mortgage payment is reasonable for the area (Austin, TX) but ridiculously low compared to SF, DC, etc. I don't think it's the raw doll
by caseysoftware 14y ago
Well below that.. and my mortgage payment is reasonable for the area (Austin, TX) but ridiculously low compared to SF, DC, etc.
I don't think it's the raw dollars that matter but what the alternative for those dollars are (aka opportunity cost).
- r00fus 14y agoYou would make a much more comparable statement by comparing your tax increase to owner equivalent rent [1], since a mortgage payment is so variable. In my case, the going rate of a house similar to mine rent-wise would be about 50% higher than my current mortgage payment. [1] http://www.investopedia.com/terms/o/owners-equivalent-rent.asp#axzz2IGHv7tSg http://www.investopedia.com/terms/o/owners-equivalent-rent.a...
- muzz 14y agoIf you were affected by the highest possible increase in payroll tax ie 2% of the first 113k of payroll income, that would be $2260 per year, or $188.33 per month. You must have a very low mortgage payment.
- vubuntu 14y agoHe meant 'a mortgage payment' .. meaning one month's mortgage payment. If not, then yes $188.33 is highly unlikely to be a monthly mortgage payment even for the affordable Austin, TX area.
- caseysoftware 14y ago$X * 2 paychecks/month * 12 months > mortgage payment
- jstelly 14y agoI read this as total yearly tax increase being greater than one month's mortgage payment. "A payment" is usually one month of your mortgage (maybe plus taxes & insurance depending on your situation), isn't it? Anyway, that seems believable for Austin, TX.