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


To: Lizzie Tudor who wrote (186010)2/23/2009 4:35:02 PM
From: ajtj99Read Replies (2) | Respond to of 306849
 
25-years ago a 30% ratio was pretty normal. They wanted no more than 30% on the mortgage payment and 38% total, inlcusive of other debt.

My guess is the 30% level is a reasonable place to place people who have any chance of staying compliant. With credit card debt and auto debt, the chances of the average person needing a workout carrying only 8% additional debt seems low.