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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (70880)	10/3/2006 9:08:21 PM
From: Lizzie Tudor	Respond to of 110194

right and fannies ratios apply..... if you are a family making 70K total or something. Any income beyond that and the ratios fall apart. I think its impossible to spend over 5K/mo as a single person on much of anything really. I mean, you'd have to be some kind of shopaholic to spend over 5K every month on expenses other than houses, its ridiculous. And yet, the current DTI ratios basically require it. As far as the tax argument, that is the REASON singles want a mortgage more than 1/3 their salary! This just makes sense. If it weren't for these ratios I could have bought a dream house in 93 that I could have lived in forever. But because the govt protected me based on their wierd assessment of what I could pay, I had to start with a starter home and move up. It was just silly.