Git R Done!
Posted on 11/19/2011 10:55:44 AM PST by radioone
They drive cars, but seldom new ones. They earn paychecks, but not big ones. Many own homes. Most pay taxes. Half are married, and nearly half live in the suburbs. None are poor, but many describe themselves as barely scraping by.
snip
She has one BlackBerry and two cars (both Buicks from the 1990s), and a $230,000 house that she, her husband and two daughters will move into next week.
Combined, she and her husband, a janitor, make about $51,000 a year, more than 200 percent of the official poverty line. But they lose about a fifth to taxes, medical care and transportation to work — giving them a disposable income of about $40,000 a year.
(Excerpt) Read more at nytimes.com ...
When we bought ours we went by only one of our incomes. Doesn’t work after retirement.
Tell me about it.
The day after I payed off my home the foundation shifted due to extreme drought.
Sigh....
Ow well, Another the price of another years mortgage should fix that.
Then there are some shingles to attend to.
I cant sell the place in this market
Another, another LoL!
Sorry for the typo, I was on the phone.
That couple has made a disasterious lifestyle choice. They should get a less expensive house or rent.
and encouraged by the FHA to do it...
Because we had sons to protect from growing up around dangerous elements in society, we bought expensive middle class properties that we would not have bought otherwise.
People make choices to offset a set of problems and often they make sacrifices in another aspect of their lives.
This does not mean they are poor as suggested in this article. They were rich enough to have a choice for their family beyond the ghetto. They are making a sacrifice in expendable income to have that life for their family.
No offense, but where in hell do you live where there are even 75k houses on the market? Haiti?
Have 30K down? mortgages have been figured as up to four times annual income.
I read the mortgage payment at around 2400 per month plus taxes and insurance.
Do they mean Working Class?
Of course now this subset can be annexed as “Poor.”
What an embarrassment!
Joe Legal vs. Jose Illegal
Here is an example of why hiring illegal aliens is not economically
productive for the State of California ...
You have 2 families...”Joe Legal” and “Jose Illegal”. Both families have 2
parents, 2 children and live in California. “Joe Legal” works in
construction, has a Social Security Number, and makes $25.00 per hour with
payroll taxes deducted....”Jose Illegal” also works in construction, has
“NO” Social Security Number, and gets paid $15.00 cash “under the table”.
Joe Legal...$25.00 per hour x 40 hours $1000.00 per week, $52,000 per
year.
Now take 30% away for state federal tax, Joe Legal now has $31,231.00
Jose Illegal...$15.00 per hour x 40 hours $600.00 per week, $31,200.00 per
year. Jose Illegal pays no taxes... Jose Illegal now has $31,200.00
Joe Legal pays Medical and Dental Insurance with limited coverage $1000.00
per month, $12,000.00 per year. Joe Legal now has $19,231.00
Jose Illegal has full Medical and Dental coverage through the state and
local clinics at a cost of $0.00 per year. Jose Illegal still has $31,200.00
Joe Legal makes too much money is not eligible for Food Stamps or welfare.
Joe Legal pays for food $1,000.00 per month, $12,000.00 per year. Joe
Legal now has $7,231.00
Jose Illegal has no documented income and is eligible for Food Stamps and
Welfare. Jose Illegal still has $31,200.00.
Joe Legal pays rent of $1,000.00 per month. $12,000.00 per year. Joe Legal
is now in the hole minus (-) $4,769.00
Jose Illegal receives a $500 per month Federal rent subsidy. Jose Illegal
pays rent. $500.00 per month. $6,000.00 per year Jose Illegal still has
$31,200.00
Joe Legal now works overtime on Saturdays or gets a part time job after
work.
Jose Illegal has nights and weekends off to enjoy with his family.
Joe Legal’s and Jose Illegal’s children both attend the same school. Joe
Legal pays for his children’s lunches while Jose Illegal’s children get a
government sponsored lunch. Jose Illegal’s children have an after school
ESL program. Joe Legal’s children go home.
Joe Legal and Jose Illegal both enjoy the same Police and Fire Services,
but Joe paid for them and Jose did not pay.
Don’t vote/support any politician that supports illegal aliens...Its PAST
time to take a stand for America and Americans!
Death Valley? Watts? Hogjaw Kansas? Hacksaw Arkansas?
Some folks are just completely detached from reality.
ten years ago in the sierras of California you could not touch anything for less than 250,000 bucks. This year, you could buy a lot in town with a one bedroom for 89,000. Yes, it was a prefab house but hey!
Only catch is the county (Touolumne) now is running 40% unemployment after the state shut down the mining and logging a few years back.
Give Obama time, houses will all be down to 50,000 range.
Well if you put a large enough down payment to br able to qualify......but that doesn't seem like the case here
She put $3000 down on a 230,000 home....some real fishy about that loan...
Yeah, and millions will still owe 100k, 250k and 350k+ on their mortgages...Almost there.
But they won't be getting bailed out like the fatcorps, banks and Wall Street did.
They robbed Peter to pay Paul. Paul is doing pretty good these days without lifting a finger for it. Paul is working his ass off and getting little for it.
We are all socialists now.
$3,000 down payment on a $230,000. Class, what is the problem with this math equation? Anybody? Bueller?
Yes class, this is how we got into the housing bubble. Just wait until her house goes down to $190,000 and she walks away from it.
$3,000 down payment.
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