America today

[Backbeach Jake]

Yes there are those....as well as the folks who are working 3 jobs and getting nowhere. It's all about the end of the month. I've worked for companies that won't write a work order the last week of the month, they're too busy fudging the figures.

[Jenn]

when my parents married they were able to build a decent home that cost one and a half times my fathers yearly salary. (remember only one income). Lets say you took that same percentage to modern day. You would have to make $100K a year to get $150,000 house.


.....just some food for thought....go ahead and think about that one for a few

[Joe]

Politics is just another vehicle for fame and money....and power...

[fishpoopoo]

Originally Posted by Jenn

when my parents married they were able to build a decent home that cost one and a half times my fathers yearly salary. (remember only one income). Lets say you took that same percentage to modern day. You would have to make $100K a year to get $150,000 house.


.....just some food for thought....go ahead and think about that one for a few

that was back in the day when mortgages were interest only and you had to pay a bullet payment at the end.

the introduction of the amortized loan, which forces people to pay down principal over time, and heretofore ridiculously low rates (as well as creative financing schemes), lenders now use three times cash flow (annual salary, as adjusted) as a rule of thumb.

[Jenn]

I have no idea what kind of loan they had but my point was more that people are spending WAY more than they should for their homes. Granted I have my share of money issues..I will always have bills.But I also didnt buy a house for what we were approved for. We bought what we knew we could afford. Unfortunately that was HALF of the approved amount. I know there are a lot of people that would say "if the bank says I can afford it I must be able to".......a direct downfall of what Bassturbed described as "creative financing scheme".

[baldwin]

Wow! I think I'll go fishing.

[whiplash]

Well said!