Quote:
Originally Posted by Goodpasture
That house, in a neighborhood of similar houses, in Tulsa, with the kitchen upgrade, the finished hardwood floors, ceramic tile. Then taking into account no air conditioning and baseboard heating, would sell from between $45,000 and $75,000 depending on exactly which neighborhood it was located in.
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Isn't that amazing? So, at $433,000 (which is what the NJ house is) most likely to qualify for the house, you're looking at a $86,000 down payment (20%) and payments of $2193 a month, plus taxes in Edison are probably around $8500 a year. So you're payment is $2900 a month plus insurance. The average "worker" (not a professional) makes anywhere from $35,000 to maybe $50,000 a year. How can you possibly handle a $3000 a month payment on that salary? Answer: you can't. That's why so many people are leaving NJ. And who can save $86,000 for a downpayment on that kind of a salary? Even if both husband and wife are working, most likely there's daycare costs (here in NJ usually about $800+ per month per child). Talk about stretched to the limit! Now you know why New Jerseyans are so grouchy.
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12-24-2007, 10:47 AM
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