PC Principal VII: BG's Barely Legal Fanclub

[NynJa]

Then why did you move?

Check
Mate

[Tyrath]

Madison's nice but it's such a small city. I'd get bored living there.

[NynJa]

Also wtf at your numbers

25/hr @ 40hrs/week = $1000/wk
1000/wk* 52 weeks = 52k/yr

Did you not account for losing 20k of that to taxes?!?

Oh wait, you did say pre-tax nvm lol


“200k house” LOOOOOOOOL
Theres a reason 4bd houses in Madison are 200k, no one wants to set roots there. They want to live their prime years in litty cities living their best life.

[Roranora]

the "housing affordability" calculator uses gross income; it is kinda weird

[archibaldcrane]

Then why did you move

sadly there's only one hollywood

[archibaldcrane]

Yeah, and do you even spend <=28% gross income on housing? <=35%?

I spend about ~55% on housing, goodness gracious. And I'm glad we got it when we did.

My mortgage is $3368/mo, *12 = $40416 - that's under 28% of 150k, and this is ignoring the rental house that pays all of its mortgage and most of my current one anyway.

[NynJa]

And how long will it take for the family in the rental home that “pays for its mortgage and most of my current one” to save up for the down payment to buy a home?

Thats why these people havent left the nest yet. Though splurgi no their savings on Gucci bags and luxury cars is dumb as fuck.

[archibaldcrane]

My tenants aren't a family, they're 3 early 30s yuppies, each paying well under 28% of their gross income on housing

[Spicyryan]

My tenants aren't a family, they're 3 early 30s yuppies, each paying well under 28% of their gross income on housing

Wow, only takes 3 "yuppies" working together to fucking rent a place for an amount speculated to be less than a third of pretax incomes.

[6souls]

Who the fuck wants to live in WI?

Ftfy

[Roranora]

My mortgage is $3368/mo, *12 = $40416 - that's under 28% of 150k, and this is ignoring the rental house that pays all of its mortgage and most of my current one anyway.

26.9%, i'llbedamned

[archibaldcrane]

Wow, only takes 3 "yuppies" working together to fucking rent a place for an amount speculated to be less than a third of pretax incomes.

yeah we should make it legal to build apartment buildings so housing isn't so scarce and expensive

also, "speculated"?

You think I rent to people without verifying their incomes? C'mon man, I may be new at this but I'm not that new.

[Spicyryan]

yeah we should make it legal to build apartment buildings so housing isn't so scarce and expensive

also, "speculated"?

You think I rent to people without verifying their incomes? C'mon man, I may be new at this but I'm not that new.

Well that's an odd remark, but building is an aside not worth traveling.

Well, when you say three "yuppies" are all paying well under 28%. It sounds more like that you are judging them than speaking from a fact. Otherwise, if you said they are spending 5% of their gross on rent each then that be taken differently. Rather than some yuppies paying well before some aribitrary demarcation of overextension.

[archibaldcrane]

Please stop replying to me

[Spicyryan]

Please stop replying to me

You said it. I was walking through that open door.

[kuronosan]

Who the fuck has $40,000 to put a down payment on a $200k house?

What century do you live in?

[archibaldcrane]

I put 80k down on my 400k house a decade ago

Gotta pinch them pennies

[Byrthnoth]

I think 40k for 200k isn't really a problem per se. The bigger problem is that no one is willing to finance 10k for 80k mortgages, which locks a large portion of Americans out of financing and thus home ownership.

[kuronosan]

Let me rephrase that. Who has 40k that is the stereotypical person living with their parents?

[Milkster]

Archi is pretty delusional when it comes to economics in the real world but posts tweets to studies all day long about it.