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nightfighter 09-01-2019 08:50 AM

Costly living
 
https://www.marketwatch.com/story/th..._theo_homepage

Nebe 09-01-2019 10:10 AM

How many dollars per hour does a person have to earn to pay a mortgage on a house that is $480,000.00 ??? Assuming he qualifies as a first time home buyer with zero down payment ? And assuming 30% of his income goes towards the house payment ??
Posted from my iPhone/Mobile device

nightfighter 09-01-2019 10:28 AM

I just saw a study on teachers paying >60% of paycheck towards rent/housing.... Just another unsustainable path our nation/community is on.
The projects I see being done are getting more and more outrageous. What do these people do that they can afford to have three or four Audis out in the driveway? My SIL was telling me about a mid 40s couple who are in their third major house with multi million dollar renos. I asked what they do, and she has no clue... The inequities of wealth are just as divisive as racism, and the working folks in this town are getting to the point where they cant afford to live here... We are going down the s hitter fast. At least I won't be around when the Chinese officially assume the top spot.

spence 09-01-2019 11:42 AM

Quote:

Originally Posted by Nebe (Post 1173264)
How many dollars per hour does a person have to earn to pay a mortgage on a house that is $480,000.00 ??? Assuming he qualifies as a first time home buyer with zero down payment ? And assuming 30% of his income goes towards the house payment ??
Posted from my iPhone/Mobile device

Roughly 100/hr in that scenario.

Sea Dangles 09-01-2019 11:46 AM

Again, these teachers will be better off in retirement than most. They pretty much go without missing any of the luxuries that the so called “ well off” are able to afford. Go to the schools and watch them pull in with their new cars. Considering they work 180 days a year of mothers hours and crush all available holidays and are backed by a union almost as strong as the fire dept. I feel they are well compensated.
Posted from my iPhone/Mobile device

Nebe 09-01-2019 12:11 PM

$100 an hour. 8 hours a day. 40 hours a week. 50 weeks a year. For 30 years.

Good luck with that.
Capitalism only works until you run out of others peoples money to pay you. ;)
Posted from my iPhone/Mobile device

JohnR 09-01-2019 01:08 PM

Quote:

Originally Posted by Nebe (Post 1173275)
$100 an hour. 8 hours a day. 40 hours a week. 50 weeks a year. For 30 years.

Good luck with that.
Capitalism only works until you run out of others peoples money to pay you. ;)
Posted from my iPhone/Mobile device


And once Capitalism fails, Socialism fails just as soon as the word gets out there is regular pockets to pick from:wave: .

spence 09-01-2019 07:09 PM

Quote:

Originally Posted by Sea Dangles (Post 1173273)
Again, these teachers will be better off in retirement than most. They pretty much go without missing any of the luxuries that the so called “ well off” are able to afford. Go to the schools and watch them pull in with their new cars. Considering they work 180 days a year of mothers hours and crush all available holidays and are backed by a union almost as strong as the fire dept. I feel they are well compensated.
Posted from my iPhone/Mobile device

I think you meant to say they only get paid for 180 days of work. But hey, they do crush those holidays whatever the hell that means,
Posted from my iPhone/Mobile device

Sea Dangles 09-02-2019 04:48 AM

Quote:

Originally Posted by spence (Post 1173282)
I think you meant to say they only get paid for 180 days of work. But hey, they do crush those holidays whatever the hell that means,
Posted from my iPhone/Mobile device

14 paid holidays for most teachers. If you are not aware,that is a lot.
Posted from my iPhone/Mobile device

Rmarsh 09-02-2019 05:18 AM

I worked as a carpenters helper building homes at age 16... 21 years old I built my own home... completely independent financially...no help from anyone....well except for the bank that took a chance and gave me a loan.
I had been told by guys older and smarter than me that working only 40 hours a week would never, ever be enough to make it happen... that I should work two jobs to double my pay...it worked.

My point being that peoples expectations versus the effort they are willing to put in don't match.

I have built homes for teachers...always marveled at the amount of paid time off they had.

Raider Ronnie 09-02-2019 07:11 AM

Quote:

Originally Posted by Sea Dangles (Post 1173273)
Again, these teachers will be better off in retirement than most. They pretty much go without missing any of the luxuries that the so called “ well off” are able to afford. Go to the schools and watch them pull in with their new cars. Considering they work 180 days a year of mothers hours and crush all available holidays and are backed by a union almost as strong as the fire dept. I feel they are well compensated.
Posted from my iPhone/Mobile device



This is dead on Chris.
Life is full of choices and teachers make that choice of employment.
Work 180 days a year.
Every single 1/2 ars holiday off.
Christmas, February & April vacation weeks.
2 month + summer vacation.
Cost of health insurance peanuts compared to most of the work force (I know 1st had because my wife works for my towns school dept)
I say they have it pretty good other that having to deal with the typical disrespectful kids #^&#^&#^&#^&#^&#^&#^& parents are raising today
Posted from my iPhone/Mobile device

nightfighter 09-02-2019 07:24 AM

My original point was more about cost of living here. The study just happened to be about teachers....
But having been at home all summer rehabbing my knee, I did see an awful lot of my neighbor, who teaches at a nearby HS...

Nebe 09-02-2019 08:01 AM

Quote:

Originally Posted by nightfighter (Post 1173290)
My original point was more about cost of living here. The study just happened to be about teachers....
But having been at home all summer rehabbing my knee, I did see an awful lot of my neighbor, who teaches at a nearby HS...

And to think minimum wage was created to insure that employees were paid a fair rate to keep them level with the cost of living.... sad
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 09:01 AM

Quote:

Originally Posted by spence (Post 1173272)
Roughly 100/hr in that scenario.

More of that Hyperbole you so detest.
Posted from my iPhone/Mobile device

Nebe 09-02-2019 09:38 AM

Quote:

Originally Posted by The Dad Fisherman (Post 1173295)
More of that Hyperbole you so detest.
Posted from my iPhone/Mobile device

You mean truth ?
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 10:31 AM

Quote:

Originally Posted by Nebe (Post 1173296)
You mean truth ?
Posted from my iPhone/Mobile device

A $480000 mortgage at 3.9% for 30 years is $2,270 a month which works out to a little more than $14 an hour based on 160 hours worked per month, you know, 40 hours a week.

No, I meant hyperbole
Posted from my iPhone/Mobile device

Nebe 09-02-2019 10:45 AM

Quote:

Originally Posted by The Dad Fisherman (Post 1173298)
A $480000 mortgage at 3.9% for 30 years is $2,270 a month which works out to a little more than $14 an hour based on 160 hours worked per month, you know, 40 hours a week.

No, I meant hyperbole
Posted from my iPhone/Mobile device

Omg. I’m going to frame this.
Posted from my iPhone/Mobile device

Nebe 09-02-2019 10:45 AM

That’s 100% of your pay.
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 10:53 AM

Quote:

Originally Posted by Nebe (Post 1173300)
That’s 100% of your pay.
Posted from my iPhone/Mobile device

That’s a 100% of a $100 an hour paying job???

Math wasn’t your forte in high school, was it
Posted from my iPhone/Mobile device

Nebe 09-02-2019 12:01 PM

Quote:

Originally Posted by The Dad Fisherman (Post 1173301)
That’s a 100% of a $100 an hour paying job???

Math wasn’t your forte in high school, was it
Posted from my iPhone/Mobile device

And reading comprehension wasn’t yours.
Posted from my iPhone/Mobile device

spence 09-02-2019 01:20 PM

He also forgot real estate taxes, payroll taxes, SS taxes, home insurance and that no first time home buyer is likely to get a premium rate on a loan.
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 02:42 PM

Quote:

Originally Posted by spence (Post 1173304)
He also forgot real estate taxes, payroll taxes, SS taxes, home insurance and that no first time home buyer is likely to get a premium rate on a loan.
Posted from my iPhone/Mobile device

Are those part of your mortgage?
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 03:28 PM

So let's go over this for the "Reading Comprehension" challenged. Nebe asked a question, how much does a person need to make to pay the mortgage on a $480k house. Pay the mortgage is the important part

Quote:

Originally Posted by Nebe (Post 1173264)
How many dollars per hour does a person have to earn to pay a mortgage on a house that is $480,000.00 ???
Posted from my iPhone/Mobile device

So Spence, in some kind of liberal induced form of Tourettes shouts out $100 an hour. Nothing based on fact, just what he feels is a good round number.

Quote:

Originally Posted by spence (Post 1173272)
Roughly 100/hr in that scenario.

I referred to it as hyperbole, which is what it is, just something made up to make a point. $100 an hour by the way is $208,000 a year.

Quote:

Originally Posted by The Dad Fisherman (Post 1173295)
More of that Hyperbole you so detest.
Posted from my iPhone/Mobile device

Nebe calls it "Truth", well then it should be able to be supported by facts

Quote:

Originally Posted by Nebe (Post 1173296)
You mean truth ?
Posted from my iPhone/Mobile device

So I plugged it into a mortgage calculator and worked out the numbers needed to "pay the mortgage" (which was the question asked) and it comes out to about $14 dollars an hour, leaving $86 an hour for the rest of life's little incidentals. 86. Dollars. An. Hour

Quote:

Originally Posted by The Dad Fisherman (Post 1173298)
A $480000 mortgage at 3.9% for 30 years is $2,270 a month which works out to a little more than $14 an hour based on 160 hours worked per month, you know, 40 hours a week.

No, I meant hyperbole
Posted from my iPhone/Mobile device

So then Nebe elevates himself to a place of superiority because he has to be smarter than the rest of us because he couldn't comprehend the above post :rolleyes:

Quote:

Originally Posted by Nebe (Post 1173299)
Omg. I’m going to frame this.
Posted from my iPhone/Mobile device

And then he invokes, what I can only guess is that New Math I've heard so much about, and tries to say that $14 an hour is 100% of a $100 an hour salary. Either that or it's that pesky reading comprehension thing again :hihi:

Quote:

Originally Posted by Nebe (Post 1173300)
That’s 100% of your pay.
Posted from my iPhone/Mobile device

Which I question him on because, you know, it doesn't make sense. Which makes me question his math skillz :hee:

Quote:

Originally Posted by The Dad Fisherman (Post 1173301)
That’s a 100% of a $100 an hour paying job???

Math wasn’t your forte in high school, was it
Posted from my iPhone/Mobile device

Which calls into question my reading comprehension skillz, I'm pretty sure I answered the question that was originally asked the way it should have been answered :huh:

Quote:

Originally Posted by Nebe (Post 1173303)
And reading comprehension wasn’t yours.
Posted from my iPhone/Mobile device

And then Spence adds a bunch of life's little roadblocks that really don't have anything to do with the actual cost of the mortgage. Which really doesn't justify the other, unaccounted for, $86 an hour

Quote:

Originally Posted by spence (Post 1173304)
He also forgot real estate taxes, payroll taxes, SS taxes, home insurance and that no first time home buyer is likely to get a premium rate on a loan.
Posted from my iPhone/Mobile device

Posted from my iPhone/Mobile device

Nebe 09-02-2019 03:40 PM

Quote:

Originally Posted by Nebe (Post 1173264)
How many dollars per hour does a person have to earn to pay a mortgage on a house that is $480,000.00 ??? Assuming he qualifies as a first time home buyer with zero down payment ? And assuming 30% of his income goes towards the house payment ??
Posted from my iPhone/Mobile device

Posted from my iPhone/Mobile device

Nebe 09-02-2019 03:41 PM

My original question.
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 03:56 PM

Quote:

Originally Posted by Nebe (Post 1173312)
My original question.
Posted from my iPhone/Mobile device

1 question, 2 assumptions
Posted from my iPhone/Mobile device

Nebe 09-02-2019 04:02 PM

Quote:

Originally Posted by The Dad Fisherman (Post 1173313)
1 question, 2 assumptions
Posted from my iPhone/Mobile device

30% goes towards his mortgage payment.
You know what ... never mind.
Posted from my iPhone/Mobile device

Nebe 09-02-2019 04:04 PM

I’m just happy knowing that you think someone who makes $14 an hour can afford to buy a house that’s almost a half million bucks.
If everyone in this country has your brain power we are doomed.
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 04:34 PM

Quote:

Originally Posted by Nebe (Post 1173317)
I’m just happy knowing that you think someone who makes $14 an hour can afford to buy a house that’s almost a half million bucks.
If everyone in this country has your brain power we are doomed.
Posted from my iPhone/Mobile device

That's not what I said, I said it costs $14 an hour to pay for that mortgage.
Posted from my iPhone/Mobile device

The Dad Fisherman 09-02-2019 04:36 PM

Quote:

Originally Posted by Nebe (Post 1173316)
30% goes towards his mortgage payment.
You know what ... never mind.
Posted from my iPhone/Mobile device

If we round up to $15 an hour and assume a third of your salary goes towards it, that means you can afford it at $45 an hour, which is well below $100 an hour.
Posted from my iPhone/Mobile device


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