4 ms·

While I agree with you, it sounds like he doesn't pay a mortgage any longer which makes that poverty level income go much further. For most of us that would be

While I agree with you, it sounds like he doesn't pay a mortgage any longer which makes that poverty level income go much further. For most of us that would be the biggest single expense. I'm not sure how that figures into the income calculation but it probably counts for something.

ghaff 14y ago
Although, note that not having a mortgage to pay is not the same as housing being free. Once my mortgage is paid off, I'll still be paying something like $5K per year in taxes and insurance. (I'm guessing taxes are higher in Massachusetts than Colorado though.) And probably add at least another $1K or two to cover upkeep/maintenance/tools to do maintenance even if he does most or all of the work himself. So a paid for house is probably still going to cost something like $500/month.