Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latest Breaking News

janx

(24,128 posts)

33. My thought exactly. n/t

Reply to 7962 (Reply #32)

Sat Jun 17, 2017, 09:20 AM

Jun 2017

Edit history

Please sign in to view edit histories.

39 replies

= new reply since forum marked as read

Highlight:

39 million households are paying more for housing than they can afford [View all] inanna Jun 2017 OP

I think 50% is closer to reality for most folks!@ n/m bagelsforbreakfast Jun 2017 #1

I suspect it might be pushing 70% as wages have been largely stagnant for decades cstanleytech Jun 2017 #4

Wages HAVE been stagnant for as long as I can remember ailsagirl Jun 2017 #17

But there's zero inflation....... SergeStorms Jun 2017 #30

We can do the math-- and it hasn't been in our favor for I-don't-know-how-long ailsagirl Jun 2017 #34

No doubt about it: sandensea Jun 2017 #2

Sounds like my brother but the problem is he lives near a military base cstanleytech Jun 2017 #3

This isn't a surprise to anyone who isn't incredibly wealthy. nt killbotfactory Jun 2017 #5

It used to be that you were supposed to budget 1/4 of your income for housing. LisaM Jun 2017 #6

I learned that formula too... inanna Jun 2017 #10

Where I live, I see the exact same circumstances from 10 yrs ago. Get ready for another fall. 7962 Jun 2017 #7

Yes, but it started in the mid 90s. janx Jun 2017 #27

The pendulum always swings too far in both directions! nt 7962 Jun 2017 #32

My thought exactly. n/t janx Jun 2017 #33

How do you get a mortgage approved for more than 30%, they run the numbers... iluvtennis Jun 2017 #8

Gross income? n/t janx Jun 2017 #28

mortgage calculations melm00se Jun 2017 #31

Define "housing costs". llmart Jun 2017 #9

The article states rent or mortgage Seedersandleechers Jun 2017 #12

So, just the mortgage amount... llmart Jun 2017 #13

Most people have their taxes and insurance included in their mortgage payment don't they? Luciferous Jun 2017 #16

Don't know if it's "most." I've never allowed a lender to escrow spooky3 Jun 2017 #19

Same with me. llmart Jun 2017 #22

It is against the law to make interest on escrow accounts. leftyladyfrommo Jun 2017 #23

Please provide a link to the law. The company that is managing the account uses the $ to spooky3 Jun 2017 #24

The median price for a home in MontanaMama Jun 2017 #11

House prices, here is some article(s) that pretty much sums up the big maybe, to the why........ turbinetree Jun 2017 #14

Wow, we spend half that amount on our mortgage! Of course, we bought a house that Luciferous Jun 2017 #15

But this is a good thing..... more money to the job creators groundloop Jun 2017 #18

Either housing or food Change2018 Jun 2017 #20

Welcome to DU. n/t rzemanfl Jun 2017 #21

I consider my wife and I to be very fortunate ripcord Jun 2017 #25

I have online news fatigue. janx Jun 2017 #26

What used to be a goal is now being treated as an absolute TexasBushwhacker Jun 2017 #35

51% here DAMANgoldberg Jun 2017 #29

This is we need finances 101 in High School mandatory for everyone snooper2 Jun 2017 #36

And many lending institutions are simply corrupt LanternWaste Jun 2017 #38

There is a reason there are pay-day loan shops all over the place snooper2 Jun 2017 #39

In Vancouver, spending 50% of your income on rent or mortgage is not unusual. EllieBC Jun 2017 #37