Mapping America

[enron_by_the_sea]

[quote=UCGal][quote=enron_by_the_sea]This is actually very interesting data. Thanks

For example, I noticed that median household income in some areas popular with Pigg homefinders is much higher than what I was thinking.

Carmel Vally tract 8333 – $126676
Carmel valley tract 8328 -$194063
Sorrento Valley tract 8346 -$135313
NW Mira Mesa tract 8347 – $98600
Scripps Ranch tract 17046 -$132941
Scripps Ranch tract 9504 – $146705

I can go on and on. But seems like these areas may not be filled with overextended homeowners as some are alleging.[/quote]

I’m not sure you can state people aren’t over extended… One of the data points is “Mortgages Consuming over 30% of income”. Which indicates fairly high DTI ratios.

Those same tracts:
Carmel Vally tract 8333 -47% have mortgages over 30%
Carmel valley tract 8328 -49%
Sorrento Valley tract 8346 – 39%
NW Mira Mesa tract 8347 – 44%
Scripps Ranch tract 17046 -47%
Scripps Ranch tract 9504 – 50%

So – about half the folks in these zips are spending a large percentage of their (large) income on housing. That’s a recipe for distress if a household loses a job.[/quote]

If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.

However your point about job loss is well taken. {So wait for Qualcomm and Scripps to lay off people to see mass foreclosures here :))

[UCGal]

[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.

But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.

Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.

[UCGal]

[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.

But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.

Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.

[UCGal]

[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.

But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.

Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.

[UCGal]

[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.

But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.

Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.

[UCGal]

[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.

But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.

Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.

[enron_by_the_sea]

[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]

Couldn’t agree more.

[enron_by_the_sea]

[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]

Couldn’t agree more.

[enron_by_the_sea]

[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]

Couldn’t agree more.

[enron_by_the_sea]

[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]

Couldn’t agree more.

[enron_by_the_sea]

[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]

Couldn’t agree more.

[bearishgurl]

Very interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.

Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)

Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??

[bearishgurl]

Very interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.

Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)

Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??

[bearishgurl]

Very interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.

Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)

Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??

[bearishgurl]

Very interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.

Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)

Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??

[Author]

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