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Back to the “Afordability Index”……

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My point is that without government gimmicks broke dicks can’t afford a house.

Period.

Subsidize interest rates, free money for down payments, tax rebates, and various other schemes just to keep the crooked elites in power and rich eventually comes to a screeching halt.

When everybody throws in the towel and demands this shit stops.

Good luck!

How much does the Average American Make? Breaking Down the U.S. Household Income Numbers.

I ran the numbers for a state with no state income taxes, Texas. A family at this level is only bringing in $3,215 a month. The national median home price peaked around $200,000. So let us assume this family purchased the median home:

5% down payment: $10,000

Mortgage 30-year fixed (6.5%): $1,200

Taxes and Insurance: $333

PITI: $1,533

Right off the bat, this family is spending 47% of their net pay on a median priced home. We didn’t even account for any pre-tax retirement account investing. Given the recent stock market performance and the loss of $50 trillion in global wealth, maybe that wasn’t such a bad idea. The bottom line is the average American family is being squeezed from every angle. What we need is a focus on jobs and our economy, not bailing out banks. That defeats the entire purpose. The average American family is struggling getting by and when they hear about these billion dollar handouts, they can’t help but to feel left out.

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Written by mrcauser

November 28, 2009 at 7:01 pm

Posted in Uncategorized

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