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A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
(www.businessinsider.com)
this post was submitted on 14 Aug 2024
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Bringing in 17k+ per month after tax and cannot afford a home?? I call bullshit. A $750k home is 5k per month including HOA/tax/insurance. That’s less than 30% of their take home.
They could double their payment and pay it off in 5 years, with 7k per month to live on, then they live rent free for the rest of their lives.
This article feels like propaganda. Homes are over priced but 250k per year is a lot of money.
Well, they are saying they bring home $11k, not $17k a month, not sure where you got that number. With $11k of income, spending $5k on mortgage is less appealing. Especially if you consider a risk of layoff.
The headline says they make 250k, or around 21k gross. 17k was my estimate of net. Article doesn’t match the headline.