RR: Farewell

"cc" wrote in message ...
G.T. wrote:
"cc" wrote in message
...
cc wrote:
JD wrote:
G.T. wrote:
http://www.spokejunkies.com/forum/in...showtopic=5015

La Canada, eh? Does a dollar go further there too?

JD

Le Canada. It's a boy.
oh, you really did mean La Canada. my bad.

La Canada is definitely a chick. And isn't Canada a chick, too?
Motherland or vaterland?

But anyway as I researched my soon to be former home I came up with an
interesting tidibit of information. The median family income is around
$125,000 here while the median home price is around $1.5 million.


How does a family which brings home around at most $8400 a month after
taxes pay a mortgage plus taxes plus insurance of approximately $8300?


Median is also not the same as mean, and says nothing of the shape of the
distribution of home values/incomes.

Five $100k homes and six $1.5M homes have the same median value as six
$1.5M homes and five $5M homes.

Yeah, I know. But the question isn't about home prices anyway because
they're known and generally over $1.2 million for a house and $700,000 for a
condo. The question is really about the distribution of income, info that
isn't as readily available as home sale info.

Greg

G.T. wrote:
"Ride-A-Lot" wrote in message
...
G.T. wrote:
How does a family which brings home around at most $8400 a month after
taxes pay a mortgage plus taxes plus insurance of approximately $8300?

Interest only loan.

Even better, negative amortization loans. Love those creative financial
vehicles out there, nothing like getting further and further behind every
month.


scary ****.