alt Hacker NewsGood question. We make tech money and rent a 3bed. No more rent control than SF defaults, we’ve only been here 2 years.
The shocking part is that we pay 5k in rent, but mortgage on the same place would be closer to 9k. Plus the commitment part (annual lease vs 30 year debt)
Very important to do your own math on these things and not just follow common wisdom.
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Yeah I think $5k/month at 15% of your income means you’re making more than $400k/year as household. (Even more if you’re counting it on net income)
The strong household income is the only reason why you’re able to limit how much you spend on housing, which unfortunately is not something most people are able to do, even if they’re renting. I get that renting is cheaper than buying at the moment with the interest rates, but it’s not cheap overall.
If $60k/year represents 15% of your income, you are well within the top decile of income for the US. The comment thread you are responding to is talking about households earning the average income.