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« Return of the Jedi | Main | Bundles of trouble »

Sep 12, 2007

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David Wharton

Interesting -- raises a lot of questions. I was shocked at how much people pay for housing (our household spends less than 9% of gross income on mortgage).

My biggest question -- how many middle- to upper-middle class people are overmortgaged?

Doug H

We pay 17% of our net income on principle, interest, and taxes.

Bubba

In the early 70s, the standard rule of thumb for a buyer to qualify was PITI being under 25% of gross income.

How did 30% get accepted as the max?

That's too high for common sense's liking.

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