|
| i was in high school in 1980-something and i recall designing a house in industrial ed, the teacher said "a house shouldnt cost over 2.5 times your annual income".. well that old rule has been blown out of the water a long time now :-) we asked the teacher what he made and he said "$14,000 a year, you can look it up in the local newspaper"... i pointed it out to my dad and he said "yeah, rich teachers!" :-)
in rural small town iowa currently there is a sweet spot for cheap houses. we were going to give away the parsonage to our Pastor and its a really nice house and we were thinking of its value at $40,000. well, the mayor has a nice home built by a wealthy retired couple who moved on and he boasted/not boasted "i have nicest house in town and its probably only worth $40,000" :-) but this is just temporary, nobody builds a new, especially fancy house in a real small town <500 pop anymore.
i work off farm part time plus farm and my wife has a good job. we`re empty nesters no mortgage, no car payments or any debt and even with those 3 sources of income, i really cant see how people with mortgages, car payments, raising kids can make it in this day and age. dave ramsey has people call in "we`re debt free!!!" and he asks details that go something like "$30,000 student loans, 2 car payments, house mortgage, credit card balances, paid it off in 18 months" dave asks "on what income?" they say "i make $150,000, my wife makes $125,000/yr" there are very few places in rural iowa you can make that kind of money... not even high paid teacher salaries :-) | |
|
Related to Tariff's
