posted on Nov, 6 2014 @ 09:16 AM
It does depend on where you live.
I've got a friend who was barely making it up here on 25k, sharing an apartment with three other people. She's since moved down to Philly or so and
is living comfortably- but I know her rent is more than my mortgage.
At 50k, I was barely making my month to month expenses here- but I'm a single-income homeowner. Property tax on my pathetic < 1/5 lot of land and my
run down home are upwards of 400 a month, and the huge purchase price (artificially created by low interest rates coupled with predatory lending)
means I pay more towards the interest on that loan every month than I pay towards the loan itself. By a depressing ratio- even though I throw down
extra every month.
I'm making a bit more now, and it feels really nice to have been able to purchase some emergency provisions this past year, but if something bad were
to happen and the cash flow, I don't think I'd be able to keep a roof over my head for more than three months.
What really bothers me about that is I suspect most people wouldn't even make it that long. Twelve weeks of buffer time- this is considered a great
achievement in this day and age.
A hundred and fifty years ago, the average person would be genuinely concerned about my situation. I suspect many people today are in awe of it.