[quote=HomeShopping]
Total house costs per month = about $13,300
Would seem to me that annual family income needs to be at least $500K to afford that. I’m assuming that most people, like me, need to save for retirement, college costs for kids, etc.
Are there still a lot of jobs making at least $500K after the banking crisis?[/quote]
There aren’t a lot of jobs making 500K, but there aren’t a lot of houses worth 2M, either.
Also, transactions in 2M and up price range commonly involve 50% to 100% cash. It is difficult to earn your way into a 2M house by working a salaried 8 to 5 job for someone else. Some people do (UCSD chancellor makes 350k; surgeons sometimes have salaries pushing 500k/year) but this is mostly
a self-employed/business owner land.
