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Posts: 154
In response to
"
I believe average household income is typically in the $70-$80K range. -- nm
"
by
Name Withheld by Request
yes, this -- nm
Posted by
Beryllium (aka grayman)
Sep 14 '10, 11:35
(No message)
Responses:
Ok, but for a $500k house, 30 year mortgage, you're still paying what? $2500/mo? That's nearly 50% of the salary -- nm
-
oblique
Sep 14, 11:41
7
depends what you put down. you don't buy a $500K house without a down payment.
-
Andie
Sep 14, 11:42
6
Either way, with most lenders preferring a < 40% debt-to-income ratio by what I can tell, that's ridiculous -- nm
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oblique
Sep 14, 11:45
also, do you pay property taxes there? nm -- nm
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groiny
Sep 14, 11:43
4
of course. -- nm
-
Andie
Sep 14, 11:44
3
see, I can afford a 400k house here, I just can not afford the taxes on it. nm -- nm
-
groiny
Sep 14, 11:44
2
though from what I understand, they're much much lower here.
-
Reagen
Sep 14, 11:46
1
That's also varible. Winnipeg, which also includes a portion of property taxes for schools, would be three or four times that. -- nm
-
Name Withheld by Request
Sep 14, 11:58
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