Msg. 50180 of 58518 (This msg. is a reply to
50164 by
Beldin)
Jump:
I don’t believe salaries keep up with inflation.
Use to be monthly mortgage/rent should be 1/3 of your monthly gross pay. Don’t think that’s the case now. I think to make that work now ya need a down payment of 50% or more. And rents are out of sight now.
Yeah, my father earned a $5,000 annual salary back in the late fifties/early sixties, but his monthly mortgage payment was only about $50 to $75. All things are relative.
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