ARCHIVE FOR June, 2014

If You Lived Here, You’d Be Home By Now5

Posted by Deirdre // 06-10-2014

 

You know those signs on condo developments like immediately outside the Holland Tunnel or at the foot of a bridge in a neighborhood most of us would never want to live? This post really has nothing to do with that but it is a kind of “what if” scenario. These types of articles are so funny while being very, very sad at the same time. $96k for – not a rancid studio in Bay Ridge 8 blocks from the subway, but a four bedroom house. That looks nice. And is probably a 15 minute commute from your job (perhaps at your local Dunder Mifflin, but still).

Sweet little thing in Cleveland, where you need to earn just under $30k/year to live nicely.

HSH.com, an entity that publishes of consumer mortgage and loan information, conducted a study to determine how much your salary would need to be in order to cover the principal, interest, tax and insurance payments on the typical (median-priced) home in various major metropolitan areas like Detroit and St. Louis and even Philly. I would say, ‘what you read may surprise you’ but the fact is, it won’t surprise you at all. We all know we’re insane to live how we live. The sane ones might trade it for greener pastures, so to speak.

But some of us choose the devil we know and the pro’s of things like Oyster-Bacon Pad Thai within walking distance. Just cuz we’re like that, and that’s the way it is.