In order to be homeowners, an average family living in Miami, Los Angeles or New York would have to dedicate over 80% of their annual income to housing. The remaining 20% would need to be enough to cover every other expense, which is likely unsustainable.when buying. This means that only ⅓ of your income after taxes should go toward your home. Anyone earning the median income in any of the places above would be well outside of that rule.
Instead, "you may have to live in a smaller apartment if you're renting, or buy a smaller home to start," O'Leary previously told CNBC Make It.stating that you should aim to spend no more than 30% of your income on housing costs, including mortgage interest, property taxes and maintenance.
MakeIt tldr: democrat strongholds because taxes
MakeIt The 3 bedroom, 2 full bath, HOA that had a backyard that we paid $211,000 for which included extras in 1999 & was open concept now sells for $950,000. Wow, about 1800 sq.ft.
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