Today’s Middle Class

[JerseyGrl]

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?

[Anonymous]

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.

[Anonymous]

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.

[Anonymous]

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.

[Anonymous]

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.

[Anonymous]

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.

[paramount]

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.

[paramount]

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.

[paramount]

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.

[paramount]

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.

[paramount]

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.

[vizcaya]

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.

[vizcaya]

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.

[vizcaya]

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.

[vizcaya]

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.

[Author]

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