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  • January 13, 2008 at 3:23 PM #11490
    JerseyGrl
    Participant

    We listened to an interesting program on PBS’s “Marketplace” yesterday. The discussion was about America’s Middle Class; who are they and how are they doing (evidently not so good).

    It seems the definition of middle class is income earnings of 30K to 90K (approximately). Those numbers surprise me.

    Anyway, listening to the program my husband remarked that here in San Diego, no one making 90K is going to get a mortgage for the 600K bungalow like we are renting in North Park. I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    What do you guys think? I can’t believe that people making more than 100-200K would want to live in North Park. So who are the people that are purchasing homes now? Are they in that 30-90K range?

    January 13, 2008 at 3:45 PM #135168
    Anonymous
    Guest

    I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    Hmmm…I didn’t know there were still companies out there giving these types of loans. Are there? Someone making 90K can’t afford a 600k house, can they? That’s why we’re in the mess we’re in today.

    January 13, 2008 at 3:45 PM #135464
    Anonymous
    Guest

    I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    Hmmm…I didn’t know there were still companies out there giving these types of loans. Are there? Someone making 90K can’t afford a 600k house, can they? That’s why we’re in the mess we’re in today.

    January 13, 2008 at 3:45 PM #135421
    Anonymous
    Guest

    I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    Hmmm…I didn’t know there were still companies out there giving these types of loans. Are there? Someone making 90K can’t afford a 600k house, can they? That’s why we’re in the mess we’re in today.

    January 13, 2008 at 3:45 PM #135367
    Anonymous
    Guest

    I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    Hmmm…I didn’t know there were still companies out there giving these types of loans. Are there? Someone making 90K can’t afford a 600k house, can they? That’s why we’re in the mess we’re in today.

    January 13, 2008 at 3:45 PM #135364
    Anonymous
    Guest

    I disagree! I believe anyone with 90K or even less income would gladly be given a mortgage tomorrow for a 600K house. With or without a down payment.

    Hmmm…I didn’t know there were still companies out there giving these types of loans. Are there? Someone making 90K can’t afford a 600k house, can they? That’s why we’re in the mess we’re in today.

    January 13, 2008 at 4:24 PM #135182
    paramount
    Participant

    90k isn’t exactly chump change…oh yah, I forgot, I am on Piggy’s Fantasy Island where 99.9% of all people are not part of the so-called “middle-class” (an ugly word on these forums). Piggy’s Fantasy Island – where the median income is 250k and the median credit score is 845 – and yet most are renters.

    Of course someone making 90k could afford a 600k house, depends on how much he/she has for a down payment.

    January 13, 2008 at 4:24 PM #135437
    paramount
    Participant

    90k isn’t exactly chump change…oh yah, I forgot, I am on Piggy’s Fantasy Island where 99.9% of all people are not part of the so-called “middle-class” (an ugly word on these forums). Piggy’s Fantasy Island – where the median income is 250k and the median credit score is 845 – and yet most are renters.

    Of course someone making 90k could afford a 600k house, depends on how much he/she has for a down payment.

    January 13, 2008 at 4:24 PM #135479
    paramount
    Participant

    90k isn’t exactly chump change…oh yah, I forgot, I am on Piggy’s Fantasy Island where 99.9% of all people are not part of the so-called “middle-class” (an ugly word on these forums). Piggy’s Fantasy Island – where the median income is 250k and the median credit score is 845 – and yet most are renters.

    Of course someone making 90k could afford a 600k house, depends on how much he/she has for a down payment.

    January 13, 2008 at 4:24 PM #135379
    paramount
    Participant

    90k isn’t exactly chump change…oh yah, I forgot, I am on Piggy’s Fantasy Island where 99.9% of all people are not part of the so-called “middle-class” (an ugly word on these forums). Piggy’s Fantasy Island – where the median income is 250k and the median credit score is 845 – and yet most are renters.

    Of course someone making 90k could afford a 600k house, depends on how much he/she has for a down payment.

    January 13, 2008 at 4:24 PM #135381
    paramount
    Participant

    90k isn’t exactly chump change…oh yah, I forgot, I am on Piggy’s Fantasy Island where 99.9% of all people are not part of the so-called “middle-class” (an ugly word on these forums). Piggy’s Fantasy Island – where the median income is 250k and the median credit score is 845 – and yet most are renters.

    Of course someone making 90k could afford a 600k house, depends on how much he/she has for a down payment.

    January 13, 2008 at 5:38 PM #135514
    vizcaya
    Participant

    I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

    I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

    January 13, 2008 at 5:38 PM #135215
    vizcaya
    Participant

    I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

    I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

    January 13, 2008 at 5:38 PM #135417
    vizcaya
    Participant

    I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

    I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

    January 13, 2008 at 5:38 PM #135414
    vizcaya
    Participant

    I make 90k, and the most comfortable home purchase, without going broke every payday is a $420k home. This involves me putting about %20 percent down. With a mortage loan of $300k at 5.375, my monthly Payment including taxes and insurance is about $2100 a month.

    I cannot understand why someone would think they can afford a $600k or even a $400k mortage with only 90k houshold income.

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