Those People are so darn smart — thanks, Miss Krista Nightengale!
I’m just saying here — looking ahead to how much house someone who earns $250,000 a year will be able to buy as we re-distribute the wealth. Not saying it shouldn’t be re-distributed, not saying it should. (Thain’s should.) OK, $250,000 in the 28% income tax bracket. That leaves $180,000. Or a monthly income of $15,000. Lots of money. We had a car lease of $1,000 on that Beamer, and maybe a little college loan out there. We are down to $13,000. We charge about $4500 a month — we pay that off. We donate and/or fritter another $1000. Did I forget anything? That leaves us $7500 for PITI — house payment, taxes and insurance.
I ask you: what price range home can you afford with $7500 a month?�
Order an extra $4 latte today because the housing headlines will give you a headache: January sales plunge to lowest levels since 1963, JP Morgan warns of upcoming problems now in home equity . Thank you, Texas legislature, for keeping our home equity at an 80% loan to value ratio, there isn’t much difference between 2007 and the days when paps gambled away the ranch at poker! Let’s see, my financial blogs say the Fed is zombified, and a $250,000 annual salary is the new max before you have to equalize society. Must see for all: House of Cards . But the sun is shining — just received word that a property I toured last week, haven’t even downloaded the photos yet, is being circled by a buyer who’s interest renewed after the agent put some time, elbow grease and love into this house. Kind of turned it from S&M Dungeon dark (do I capitalize dungeon?) to bright, fresh, light, airy… details and photos forthcoming.
Now why didn’t I think of this? (I just love Zillow!) I’m going to go dig up some dirt on our local Dallas chef celebs. Stay tuned — Dean, Kent, I’ll be by your house in the next few days, camera in hand!