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Re: I found this ad the other day. 

By: nacl01 in 6TH POPE | Recommend this post (1)
Thu, 15 Feb 24 4:23 AM | 24 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 50181 of 58519
(This msg. is a reply to 50180 by CTJ)
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Use to be monthly mortgage/rent should be 1/3 of your monthly gross pay.

The measure I use is that a year and a half out of college I bought a townhouse for 150% of my gross salary. Ten years later I bought a house, again for about 150% of my salary.

My daughter is four and a half years out of engineering school and homes in Dallas seem to start at around $450K. And, no, she is not making $300K..(Yet! Mr. Green )

nacl


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The above is a reply to the following message:
Re: I found this ad the other day.
By: CTJ in 6TH POPE
Thu, 15 Feb 24 3:53 AM 		Msg. 50180 of 58519

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.


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