[Homestead] Wrong admission

bob ford bobford79 at yahoo.com
Wed Sep 24 20:32:04 EDT 2008


How big are the houses of which you speak.  The average house, built today is about 2000 sq. ft.
 
I've always agreed that a house which someone buys for their personal residence , should not cost more than 3 X annual salary, before txes.  The lower you can go than that the better.  But,  3X should be max, and you should have enough $$$ for 20% down, and 3 months worth of utilities.  I think that used to be a kind of rule of thumb ....bobford



----- Original Message ----
From: "Clansgian at wmconnect.com" <Clansgian at wmconnect.com>
To: homestead at lists.ibiblio.org
Sent: Wednesday, September 24, 2008 5:25:22 PM
Subject: Re: [Homestead] Wrong admission



> >Yes, it is nice that low-income and blacks and Hispanics are in houses. 
> BUT, they should be in houses they can afford.  As should all the lower 
> middle-class that suddenly were buying McMansions.

That's the thing.  Because so much mortgage money was available, there was no 
incentive to build modest houses.  We could have had a lot more homeowners 
(as opposed to home-debtors) if we had not built so many of those rattling, 
cavernous monstrosities.  </HTML>
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