- tennyson
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Re: The salary you must earn to buy a home in 27 metros
Goose wrote:
So, I guess you put your house in order to buy, or rent,,,,,
Looks like median take home pay each month is about $4K.
Of which about 25% of your pay each month is needed to pay that mortgage, exactly as Ramsey described,
What is the problem?
One correction to above. The take home pay is normally the net pay thus at 600/wk the average monthly takehome pay would only be 2600 (600 x 52 / 12)
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- TraderJay
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Re: The salary you must earn to buy a home in 27 metros
No problem, I put his formula in real terms for a visualization.
- Goose
- Cogito ergo sum
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Re: The salary you must earn to buy a home in 27 metros
So, I guess you put your house in order to buy, or rent,,,,,
Looks like median take home pay each month is about $4K.
Of which about 25% of your pay each month is needed to pay that mortgage, exactly as Ramsey described,
What is the problem?One correction to above. The take home pay is normally the net pay thus at 600/wk the average monthly takehome pay would only be 2600 (600 x 52 / 12)
I was looking at a dual income family.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.