What's your mortgage?
I hope this does not come across as being nosy because thatÂs not my intent, but in looking at the prices of houses for the past 3-4 years I need to know how people are affording it.
I have been curious as to what people are spending on their mortgage and taxes vs. what they make. Now, I figured a way to do this without talking dollars is maybe a ratio of weekly household take home pay vs. house/tax cost. For example, it takes my wife and I less then a week to cover the mortgage and taxes which I think is pretty comfortable. I also have friends that need over 6k a month for the house and taxes but I don't know how that stretched them, so I know that it is all relative. I know there are all kinds of mortgages to lower the cost, and other expenses, etc. but I want to keep it simple. I am also not using this as a gauge to figure what we or anyone can afford, but more of an insight to whatÂs been going on in the housing market.