The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (5438)	9/19/2002 11:54:45 AM
From: Paul Viapiano	Read Replies (1) of 306849

No that's a terrible rule of thumb. Figure your net (minus every single tax you pay) and figure a third from that. Your gross income can be almost third higher than your take home depending on your marginal rate and various deductions, which means if you take a third of the gross you are spending almost half your net. Do you really want to work half of every single day to put a roof on your head? Grace...probably the best I can do is 40% according to your formula...out here in LA, CA...things are different here and always have been...but you knew that...

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