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He was responding to another poster inferring paying a mortgage is somehow different then paying rent. Personally I disagree. You pay both by their due date or you end up on the street. Faster if you rent as it takes much longer to foreclose than it does to evict in NC. Explaining that the mortgage gives you equity over time misses the point in the thread.
Well, yes, from the month to month, hand to mouth perspective, the two payments are similar.
And, in no other way, philosophically or economically are they similar.
median income of Wake County, first result of Google is $67K. Per this site it's $76K.
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$67K @ 28% DTI ratio is ~ $250K mortgage.
the median price of sales in Wake County, last 12 months, is $292K. So, a little less than 20% down is needed.
Let us remember that many in the median income category already own their house, and so purchasing a more expensive house isn't in their plans anyway. The more relevant question would be "what does the average first-time buyer make as household income in Wake County?"
You used Wake County I just used Raleigh
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But it's completely moot as the median isn't buying a $400k home, income just doesn't support it which your numbers show. That was the point that poster was trying to make.
Well, yes, from the month to month, hand to mouth perspective, the two payments are similar.
And, in no other way, philosophically or economically are they similar.
No one was saying otherwise, you are digging for an argument where there is none...
What part of I care about my welfare above any retailer do you not get? I don't care if Amazon is the only retailer, as long as I get low prices and good customer service.
Yeah. Collecting tchotchkes and other stuff cheap and easy is far more important than a healthy community.
What part of I care about my welfare above any retailer do you not get? I don't care if Amazon is the only retailer, as long as I get low prices and good customer service.
America in a nutshell. Me and my needs first and foremost and others be damned.
The retailers left have mostly adapted to Amazon's "marketplace" pricing level. I notice most things are of similar cost and some things can be quite pricey on Amazon compared to local retail.
I also have gotten fakes or "seconds" in the past from Amazon so I'm mostly done with them. Their retail sales are the majority of their revenue but their margin is ultra slim. They are the Walmart of online retail, but worse because they don't vet their products like Walmart does.
Honestly it wouldn't take a lot for another "marketplace" type seller to take them on and start chipping away. People are price sensitive for many items.
Of course, it is all guesswork, looking for clues, looking for credible sources amidst endless conjecture.
And, there is the Ikea kerfuffle helping to stoke tentativeness, where they withdrew after great fanfare.
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