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Old 09-01-2019, 08:50 AM   #1
nightfighter
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Costly living

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

“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
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Old 09-01-2019, 10:10 AM   #2
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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 ??
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Old 09-01-2019, 10:28 AM   #3
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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.

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Old 09-01-2019, 11:42 AM   #4
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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 ??
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Roughly 100/hr in that scenario.
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Old 09-01-2019, 11:46 AM   #5
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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.
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Old 09-01-2019, 12:11 PM   #6
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$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.
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Old 09-01-2019, 01:08 PM   #7
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$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.
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And once Capitalism fails, Socialism fails just as soon as the word gets out there is regular pockets to pick from .

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Old 09-01-2019, 07:09 PM   #8
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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.
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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,
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Old 09-02-2019, 04:48 AM   #9
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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,
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14 paid holidays for most teachers. If you are not aware,that is a lot.
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Old 09-02-2019, 05:18 AM   #10
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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.
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Old 09-02-2019, 07:11 AM   #11
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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.
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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
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Old 09-02-2019, 07:24 AM   #12
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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...

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Old 09-02-2019, 08:01 AM   #13
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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
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Old 09-02-2019, 09:01 AM   #14
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Roughly 100/hr in that scenario.
More of that Hyperbole you so detest.
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Old 09-02-2019, 09:38 AM   #15
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More of that Hyperbole you so detest.
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You mean truth ?
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Old 09-02-2019, 10:31 AM   #16
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You mean truth ?
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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
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Old 09-02-2019, 10:45 AM   #17
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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
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Omg. I’m going to frame this.
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Old 09-02-2019, 10:45 AM   #18
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That’s 100% of your pay.
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Old 09-02-2019, 10:53 AM   #19
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That’s 100% of your pay.
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That’s a 100% of a $100 an hour paying job???

Math wasn’t your forte in high school, was it
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Old 09-02-2019, 12:01 PM   #20
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That’s a 100% of a $100 an hour paying job???

Math wasn’t your forte in high school, was it
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And reading comprehension wasn’t yours.
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Old 09-02-2019, 01:20 PM   #21
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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.
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Old 09-02-2019, 02:42 PM   #22
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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.
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Are those part of your mortgage?
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Old 09-02-2019, 03:28 PM   #23
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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

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How many dollars per hour does a person have to earn to pay a mortgage on a house that is $480,000.00 ???
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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.

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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.

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More of that Hyperbole you so detest.
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Nebe calls it "Truth", well then it should be able to be supported by facts

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You mean truth ?
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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

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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
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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

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Omg. I’m going to frame this.
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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

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That’s 100% of your pay.
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Which I question him on because, you know, it doesn't make sense. Which makes me question his math skillz

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

Math wasn’t your forte in high school, was it
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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

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And reading comprehension wasn’t yours.
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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

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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.
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Old 09-02-2019, 03:40 PM   #24
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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 ??
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Old 09-02-2019, 03:41 PM   #25
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My original question.
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Old 09-02-2019, 03:56 PM   #26
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My original question.
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1 question, 2 assumptions
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Old 09-02-2019, 04:02 PM   #27
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1 question, 2 assumptions
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30% goes towards his mortgage payment.
You know what ... never mind.
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Old 09-02-2019, 04:04 PM   #28
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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.
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Old 09-02-2019, 04:34 PM   #29
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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.
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That's not what I said, I said it costs $14 an hour to pay for that mortgage.
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Old 09-02-2019, 04:36 PM   #30
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30% goes towards his mortgage payment.
You know what ... never mind.
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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.
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