What % Of Your Income Is Spent on Housing?
Apr 19th 2006, 11:10 pm
#46
BE Enthusiast
Joined: Aug 2003
Location: Baltimore, MD
Posts: 409
Re: What % Of Your Income Is Spent on Housing?
Add together Mortgage, Insurance and Property tax we pay about 21%- or at least are required to. Most months we put in a bit extra towards the principal.
Apr 19th 2006, 11:11 pm
#47
Septicity
Joined: May 2004
Posts: 23,762
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Giantaxe
With over 42,000 resale houses on the Phoenix area MLS right now (up from 10,000 last July) you might be being a bit optimistic there!
But is it gonna rust or bust? My inclination would be with the former.
Apr 19th 2006, 11:14 pm
#48
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Yorkieabroad
we toyed with it, and I think the only reason we didn't go longer term was that I didn't psychologically like the idea of a mortgage maturing when I will (hopefully) be long retired - and yes, I know thats totally illogical because we could always pay it off early, but thats where we are. There were a few other things, such as the life insurance coverage for it was a bit higher too, but basically it was a "time of life" thing
I see where you're coming from, its funny how totally illogical emotional things can impact total logical financial things
I personally really liked having my car payment, at 5% i can get a better return myself, but then it has started to impact my dept to income ratio as i get more properties.... so i have to pay it off which seems illogical to me....
Apr 19th 2006, 11:18 pm
#49
You Are All Diseased
Joined: Feb 2004
Location: Farnham, UK
Posts: 4,511
Re: What % Of Your Income Is Spent on Housing?
Just a little over 30% with the remaining 70% on utility bills and gas for the motor 
Apr 19th 2006, 11:26 pm
#50
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,865
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by fatbrit
But is it gonna rust or bust? My inclination would be with the former.
Apr 19th 2006, 11:28 pm
#51
Lost in BE Cyberspace
Joined: Feb 2004
Posts: 14,577
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Giantaxe
That's the big question, of course.... my inclination is also rust, probably for 5-10 years based on previous real estate cycles in the US. But, if it's going to bust anywhere, Phoenix would be high on my list given the rampant speculation there in the recent past.
I move from Sussex where I couldn't afford a one bedroom flat, now I'm here where I could probably get a condo... if I'm quick.
Apr 19th 2006, 11:31 pm
#52
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by rincewind
Just a little over 30% with the remaining 70% on utility bills and gas for the motor
Apr 19th 2006, 11:32 pm
#53
You Are All Diseased
Joined: Feb 2004
Location: Farnham, UK
Posts: 4,511
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by BritGuyTN
are you a member of depeche mode?
Apr 19th 2006, 11:36 pm
#54
Thinking about it
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by anotherlimey
I was hoping Miami might be on that list!
I move from Sussex where I couldn't afford a one bedroom flat, now I'm here where I could probably get a condo... if I'm quick.
I move from Sussex where I couldn't afford a one bedroom flat, now I'm here where I could probably get a condo... if I'm quick.
Apr 19th 2006, 11:37 pm
#55
Joined: Mar 2003
Posts: 68,280
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by rincewind
Maybe.....although only in my head.
Apr 19th 2006, 11:38 pm
#56
You Are All Diseased
Joined: Feb 2004
Location: Farnham, UK
Posts: 4,511
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Ray
Rincey makes his monthly appearance ....
Apr 19th 2006, 11:42 pm
#57
Joined: Mar 2003
Posts: 68,280
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by rincewind
Rincey been busy. Had a little free time so I thought I would drop in and see what's happening in Expat land.
losing to many people lately ...
Apr 19th 2006, 11:46 pm
#58
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by BigDavyG
Wait it out mate - when the carsh happens we will become slum lords overnight
when people shit their pants about a $50 late payment fee and you can waive it for a 'first offense' and they express extreme gratitude you can feel great
Apr 19th 2006, 11:47 pm
#59
Lost in BE Cyberspace
Joined: Feb 2004
Posts: 14,577
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by BritGuyTN
I am now, it can be quite emotionally and financially rewarding
when people shit their pants about a $50 late payment fee and you can waive it for a 'first offense' and they express extreme gratitude you can feel great
when people shit their pants about a $50 late payment fee and you can waive it for a 'first offense' and they express extreme gratitude you can feel great
Apr 19th 2006, 11:48 pm
#60
You Are All Diseased
Joined: Feb 2004
Location: Farnham, UK
Posts: 4,511
Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Ray
Well!! I would rather see your scruptious wife ... but you will do ...
losing to many people lately ...
losing to many people lately ...