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: fatty who wrote (10872)	5/31/2003 12:14:02 PM
From: Lizzie Tudor	Read Replies (2) of 306849

A $150k income brings home about $6000 after taxes and deductions. That sounds a little extreme, with a 48% tax rate. Of course its Mass, so anything is possible but that is higher than we pay here. With 12.5k/mo income you should be taking home closer to 8K. And out of that 8K, $4k seems manageable for housing expense, leaving $4K/mo for other. To me that seems alright. That old rule 30% housing expenses starts to become irrelevant at right about this juncture, imo. For a while in 2001 I had housing expenses at 70% of my total take home pay, no problem, because I still had $2500/mo to spend, which really is fine as long as you don't have 2 kids in expensive private school. That seems to be the differentiator.

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