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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (22155)	7/13/2004 3:22:33 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

If you're inquiring about a specific couple whom you know and you're wondering how they are affording a house, No, not really. Its just that I keep reading about people with huge mortgages and large % of their income going to mortgage... which sounds completely unacceptable until I find out they have $12K/month income and even with the mortgage that leaves $5K/mo leftover just to spend with no kids. When I bought my first house, actually a condo years ago (I sold it a long time ago), I had a $3200/mo income. In that case, 50% of income going to mortgage would have been painful. It seems like the law of large numbers is kicking in on the old debt/equity ratios.