Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain

What a family of four is required to make to live comfortably (lemmy.world)

submitted 6 months ago* (last edited 6 months ago) by SeattleRain to c/housing_bubble_2

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[–] SeattleRain 1 points 6 months ago (1 children)

Have you never heard of income taxes?

[–] Godric -2 points 6 months ago (1 children)

No, never, what are those?

[–] SeattleRain 0 points 6 months ago* (last edited 6 months ago) (1 children)

Also this budge is for a family to live comfortably so 20% of income is saved.

[–] Godric 1 points 6 months ago (3 children)

Mmmmhmmmm, I actually read the little description 50% of 200k is 100k. What family of four is spending 100k a year on necessities?

[–] SeattleRain 2 points 6 months ago (1 children)

Renting a single family home in almost any city can top 40k a year easy. And no, it's not anything near luxurious.

[–] cabron_offsets 1 points 6 months ago

In my metro, renting a 3-bed is going to cost minimum 48K/year.

[–] Wwwbdd 0 points 6 months ago* (last edited 6 months ago)

No kidding. I picked a random city in Michigan, found a nice house, new build for $390k. Mortgage is 2,652/month, which leaves $75,176 for necessities. Barely $6000/month for food, electricity and the lease on two lexii? That's not living

Ok, even if I take out income tax with no tricks to bring it down, take home is 160k. 80k/year on necessities, 48k after housing is taken out. 4000/month for utilities, food, car and gas? There's no sense breaking down a "comfortable" budget of necessities after that, this whole thing is out to lunch, as far as Petoskey Michigan is concerned