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: Micawber who wrote (10878)	5/31/2003 11:38:48 PM
From: fatty	Read Replies (1) of 306849

>Fatty: You're the one who said We have lots of money to spend on food, entertainment and vacation but we just can't afford a decent house. Now you're saying the taxman is taking more than half your pay and you're barely getting by. Which is it? I said I have lots of money to spend because I don't have to spend $3500 on housing. If I were to get a $600k house, I'd be left with $2500 for other living expenses even if I have a $150k income. >If you have all this money to spend, then haven't you socked some of it away? If you make a 20% DP on a $600k house, that leaves a $480k loan. My point was that the difference between spending $3500 vs $1500 is getting a better school system and richer neighbors. I'm not sure what kind of benefits rich neighbors may bring me, but a better school system may help my kid. Nonetheless, I don't think a 100 points in SAT justify $2000 extra per month.

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