@[email protected] to A Boring [email protected] • 10 days agoStudy: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.www.bankrate.comexternal-linkmessage-square29fedilinkarrow-up1227
arrow-up1227external-linkStudy: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.www.bankrate.com@[email protected] to A Boring [email protected] • 10 days agomessage-square29fedilink
minus-square@[email protected]linkfedilinkEnglish18•10 days agolooks at pay statement looks at $117,000 needed to “afford” a house looks back at pay statement and realizes the income works out to very close to 10 times LESS 😐 I knew I was poor, but damn dude.
minus-squareHubertMannelinkfedilinkEnglish7•10 days ago10X!!! thats like $5/hr full time. Thats illegal everywhere I know of.
minus-square@[email protected]linkfedilinkEnglish12•10 days agoGross income (before taxes) for US federal minimum wage is $15,080 for full-time. So, close to 10x less.
minus-squareHubertMannelinkfedilinkEnglish5•10 days agomy mistake. my states is like twice that and the region I am around near the city is higher. Did not realize the federal was still so low.
minus-square@[email protected]linkfedilinkEnglish6•10 days agoFederal minimum wage was last raised to $7.25 per hour effective July 24, 2009. It’s a good thing that was definitely a livable wage in 2009 and that there hasn’t been any inflation since then.
minus-square@[email protected]linkfedilink5•edit-210 days agoThere’s also take home pay after taxes and expenses vs gross/net.
minus-square@[email protected]linkfedilink2•10 days agoI wasn’t clear. The article calls out annual household income. Meaning that could be combined income. A single person making 120k and couple making 60k x2 is not equivalent. Health insurance and living expenses creep up.
minus-squareHubertMannelinkfedilinkEnglish2•10 days agoOh I am definately aware of that. Im single income with a wife that has a lot of medical issues and while I make a good salary (when employed) we live modest as fuck to get by.
looks at pay statement
looks at $117,000 needed to “afford” a house
looks back at pay statement and realizes the income works out to very close to 10 times LESS
😐
I knew I was poor, but damn dude.
10X!!! thats like $5/hr full time. Thats illegal everywhere I know of.
Gross income (before taxes) for US federal minimum wage is $15,080 for full-time. So, close to 10x less.
my mistake. my states is like twice that and the region I am around near the city is higher. Did not realize the federal was still so low.
Federal minimum wage was last raised to $7.25 per hour effective July 24, 2009.
It’s a good thing that was definitely a livable wage in 2009 and that there hasn’t been any inflation since then.
There’s also take home pay after taxes and expenses vs gross/net.
Im pretty sure the article is gross pay.
I wasn’t clear.
The article calls out annual household income. Meaning that could be combined income.
A single person making 120k and couple making 60k x2 is not equivalent. Health insurance and living expenses creep up.
Oh I am definately aware of that. Im single income with a wife that has a lot of medical issues and while I make a good salary (when employed) we live modest as fuck to get by.