re: Housing: WTF?

Ill say it, a 30-40% correction in the housing and auto market would make me smile quite large.

quote:

---

Crazy to me as 23% of gross is over 30% of take home most likely. That doesn’t leave much wiggle room for living. But to each their own people must be making it work somehow in these high prices areas

---

Depends on total dollars. If your net is only 6000 for a family of 4(I think this is about average), then yeah spending 30 percent on housing will make it tight as it only leaves 4200ish for everything else. If your net is 10000 a month it leaves 7000ish for everything else. I Just don’t see how that’s a struggle (it might feel a little tight until your savings builds up or when a huge expense pops up).