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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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09-01-2019, 10:10 AM
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#1
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,559
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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 ??
Posted from my iPhone/Mobile device
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09-01-2019, 10:28 AM
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#2
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Seldom Seen
Join Date: May 2001
Posts: 10,404
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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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“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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09-01-2019, 11:42 AM
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#3
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,182
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Quote:
Originally Posted by Nebe
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
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Roughly 100/hr in that scenario. |
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09-02-2019, 09:01 AM
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#4
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Super Moderator
Join Date: Sep 2003
Location: Georgetown MA
Posts: 18,178
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Quote:
Originally Posted by spence
Roughly 100/hr in that scenario.
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More of that Hyperbole you so detest.
Posted from my iPhone/Mobile device |
"If you're arguing with an idiot, make sure he isn't doing the same thing."
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09-02-2019, 09:38 AM
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#5
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,559
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Quote:
Originally Posted by The Dad Fisherman
More of that Hyperbole you so detest.
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You mean truth ?
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09-02-2019, 10:31 AM
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#6
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Super Moderator
Join Date: Sep 2003
Location: Georgetown MA
Posts: 18,178
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Quote:
Originally Posted by Nebe
You mean truth ?
Posted from my iPhone/Mobile device
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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
Posted from my iPhone/Mobile device |
"If you're arguing with an idiot, make sure he isn't doing the same thing."
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09-02-2019, 10:45 AM
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#7
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,559
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Quote:
Originally Posted by The Dad Fisherman
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
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Omg. I’m going to frame this.
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09-02-2019, 03:40 PM
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#8
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,559
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Quote:
Originally Posted by Nebe
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
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Posted from my iPhone/Mobile device |
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