“So what income is needed to support this? $240K ($20K/month) at the minimum? Basically, give 50% of your income to support this house. Two very good professional jobs will actually achieve that in San Diego, so maybe not everyone is doomed. What do you all think?”
What % of San Diego households gross over $240k per annum? And are not dependent on bubble-related business?
And have done the sensible thing and re-fi’ed to lock in a low rate, rather than use their house as an ATM to furnish a more lavish lifestyle?
I’ll suspect not enough to finance a soft landing.
