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: Lizzie Tudor who wrote (10877)	6/1/2003 10:10:48 AM
From: Wyätt Gwyön	Read Replies (1) of 306849

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. to me it seems ridiculous to pay 50% of one's disposable income for housing, especially if it is a higher-than-average disposable income, as 8K is. higher-than-average incomes are subject to downsizing in a weak economy. like the 50% downsizing that many i know have experienced. the situation is even more ridiculous when one considers the multigenerational lows in interest rates. absolute principle debt equal to 6 times one's annual disposable income borders on the absurd imo. especially for people who are already in their peak earning years and are unlikely to see a trebling of their income in real terms. i think it is not prudent to spend more than 1/3 of disposable income for a house. now one may argue that there aren't any good houses at that price. my reply is, just wait.

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