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December 9, 2009 at 10:15 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #492843December 9, 2009 at 10:15 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #493080
(former)FormerSanDiegan
Participant[quote=flu]
This has got to be a troll.
[/quote]
I agree. Whenever I see a strong of sentences and no use of paragraphs, I find it impossible to even read.
I stopped at the phrase “choking on 8 mortgage payments”.
(former)FormerSanDiegan
Participant“Like matter, money is neither created nor destroyed”
This is simply not true.
(former)FormerSanDiegan
Participant“Like matter, money is neither created nor destroyed”
This is simply not true.
(former)FormerSanDiegan
Participant“Like matter, money is neither created nor destroyed”
This is simply not true.
(former)FormerSanDiegan
Participant“Like matter, money is neither created nor destroyed”
This is simply not true.
(former)FormerSanDiegan
Participant“Like matter, money is neither created nor destroyed”
This is simply not true.
(former)FormerSanDiegan
Participant[quote=jameswenn][quote=beanmaestro]I have to admit, I don’t really follow the logic in these limits. Our expenses break down more or less as follows (well, before we bought a house)
25% taxes
35% savings
15% rent
25% other expensesOther than not being stupid enough to grossly overpay for a house, I don’t see why we couldn’t spend 50%+ of our gross income on a house.[/quote]
If you use that break down, once you go to 50% (35% savings + 15% rent) for a home payment, you don’t have any savings, i think 35% for housing is a safer number[/quote]
But you forgot taxes. Your taxes will be reduced in that scenario, so it might be more like …
20 % taxes
10% savings
50% Housing
25% other expensesThough I would not advocate spending that much on housing.
(former)FormerSanDiegan
Participant[quote=jameswenn][quote=beanmaestro]I have to admit, I don’t really follow the logic in these limits. Our expenses break down more or less as follows (well, before we bought a house)
25% taxes
35% savings
15% rent
25% other expensesOther than not being stupid enough to grossly overpay for a house, I don’t see why we couldn’t spend 50%+ of our gross income on a house.[/quote]
If you use that break down, once you go to 50% (35% savings + 15% rent) for a home payment, you don’t have any savings, i think 35% for housing is a safer number[/quote]
But you forgot taxes. Your taxes will be reduced in that scenario, so it might be more like …
20 % taxes
10% savings
50% Housing
25% other expensesThough I would not advocate spending that much on housing.
(former)FormerSanDiegan
Participant[quote=jameswenn][quote=beanmaestro]I have to admit, I don’t really follow the logic in these limits. Our expenses break down more or less as follows (well, before we bought a house)
25% taxes
35% savings
15% rent
25% other expensesOther than not being stupid enough to grossly overpay for a house, I don’t see why we couldn’t spend 50%+ of our gross income on a house.[/quote]
If you use that break down, once you go to 50% (35% savings + 15% rent) for a home payment, you don’t have any savings, i think 35% for housing is a safer number[/quote]
But you forgot taxes. Your taxes will be reduced in that scenario, so it might be more like …
20 % taxes
10% savings
50% Housing
25% other expensesThough I would not advocate spending that much on housing.
(former)FormerSanDiegan
Participant[quote=jameswenn][quote=beanmaestro]I have to admit, I don’t really follow the logic in these limits. Our expenses break down more or less as follows (well, before we bought a house)
25% taxes
35% savings
15% rent
25% other expensesOther than not being stupid enough to grossly overpay for a house, I don’t see why we couldn’t spend 50%+ of our gross income on a house.[/quote]
If you use that break down, once you go to 50% (35% savings + 15% rent) for a home payment, you don’t have any savings, i think 35% for housing is a safer number[/quote]
But you forgot taxes. Your taxes will be reduced in that scenario, so it might be more like …
20 % taxes
10% savings
50% Housing
25% other expensesThough I would not advocate spending that much on housing.
(former)FormerSanDiegan
Participant[quote=jameswenn][quote=beanmaestro]I have to admit, I don’t really follow the logic in these limits. Our expenses break down more or less as follows (well, before we bought a house)
25% taxes
35% savings
15% rent
25% other expensesOther than not being stupid enough to grossly overpay for a house, I don’t see why we couldn’t spend 50%+ of our gross income on a house.[/quote]
If you use that break down, once you go to 50% (35% savings + 15% rent) for a home payment, you don’t have any savings, i think 35% for housing is a safer number[/quote]
But you forgot taxes. Your taxes will be reduced in that scenario, so it might be more like …
20 % taxes
10% savings
50% Housing
25% other expensesThough I would not advocate spending that much on housing.
December 2, 2009 at 4:40 PM in reply to: Redfin list vs. sales price per sq. ft. chart – sign of weakness ? #489555(former)FormerSanDiegan
ParticipantThe list price is what’s left on the market. So in periods where the mix is changing, the List PPSF and the sold PPSF should diverge. When the mix is relatively constant, these should move in tandem (perhaps with some lag). So, interpreting these is tricky at best.
December 2, 2009 at 4:40 PM in reply to: Redfin list vs. sales price per sq. ft. chart – sign of weakness ? #489721(former)FormerSanDiegan
ParticipantThe list price is what’s left on the market. So in periods where the mix is changing, the List PPSF and the sold PPSF should diverge. When the mix is relatively constant, these should move in tandem (perhaps with some lag). So, interpreting these is tricky at best.
December 2, 2009 at 4:40 PM in reply to: Redfin list vs. sales price per sq. ft. chart – sign of weakness ? #490193(former)FormerSanDiegan
ParticipantThe list price is what’s left on the market. So in periods where the mix is changing, the List PPSF and the sold PPSF should diverge. When the mix is relatively constant, these should move in tandem (perhaps with some lag). So, interpreting these is tricky at best.
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