3 ms·
The median house price in the US (Jan 2014) was $188k, so it doesn't make sense to say 157k is targeted at the top 10%. The average SS benefit check for a reti
by NoPiece 12y ago
The median house price in the US (Jan 2014) was $188k, so it doesn't make sense to say 157k is targeted at the top 10%.
The average SS benefit check for a retired worker is 1,298.40. A spouse would add another 652.57. And they'd have medicare, and hopefully some savings for a down payment.
http://www.ssa.gov/policy/docs/quickfacts/stat_snapshot/2014-04.html http://www.ssa.gov/policy/docs/quickfacts/stat_snapshot/2014...
- pessimizer 12y agoThe median house price is not affordable for the median worker. As you say, though, characterizing someone who can afford the mortgage on a $157K house as in the top 10% is way off. That was the lowest priced house available though, so who knows what proportion of the community those homes constitute.