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This comes down to the whole "need versus want' equation. People making very low income might want a newer car and lobster for dinner too, that doesn't mean they should manage their finances to get these things just because it sounds like something better.
Many other countries (and some US cities) it is far more common to have a roommate, yet we have people who believe it is some fundamental right to have living space completely to themselves as adults.
You know, there are Judge Judy videos on Youtube. You should watch them some time. Listening to the number of squabbling roommates suing each other will change your mind in a big hurry.
Quote:
Originally Posted by weiwuwei
"yet we have people who believe it is some fundamental right to have living space completely to themselves as adults."
Average income in 1950 was $3300, median home price 1950 was $7300
2014 average income about $50k, average home price $190k-ish.
Wherever did they get THAT idea?!?
What Weiwuwei is trying to say is that if your salary to house price was the same ratio in 2014 as it was in 1950, your average income today would have to be $85,890 to afford it instead of $50,000 OR, if you're only making $50,000, your house should only cost $$110,606.00 .
Quote:
Originally Posted by ringwise
For starters, I'd never expect a person to spend their entire working life in a minimum wage position. Who, other than the lazy, mentally or physically handicapped (who do deserve help), and "takers", can't increase their income in a 50 year career?
A better question might be, why do you think people who work 40 hours a week deserve to live in poverty? They're working.
Isn't that what everyone always wants to see? People working and pulling their own weight? You complain when they don't work and you complain when they do. There's no pleasing people like you.
You know, there are Judge Judy videos on Youtube. You should watch them some time. Listening to the number of squabbling roommates suing each other will change your mind in a big hurry.
What Weiwuwei is trying to say is that if your salary to house price was the same ratio in 2014 as it was in 1950, your average income today would have to be $85,890 to afford it instead of $50,000 OR, if you're only making $50,000, your house should only cost $$110,606.00 .
A better question might be, why do you think people who work 40 hours a week deserve to live in poverty? They're working.
Isn't that what everyone always wants to see? People working and pulling their own weight? You complain when they don't work and you complain when they do. There's no pleasing people like you.
a rough rule of thumb was housing should run about 2-1/2 times income . that has been the typical middle class lifestyle benchmark . it is way out of whack today in many areas.
based on median income in our area that rule can buy a co-op outside manhattan , but certainly not a house here . you can get a studio in manhattan so if a family you are out of luck
And why not 22 ?
Twice the bedrooms, twice the people
10 ppl in the house plus one in an RV in the driveway. 6 in the bedrooms, 3 in the garage, 1 in the living room.
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