We have friends that make well over $100K a year; some over $200K, yet many of them are just getting by. SOme of them own several homes that bought during "haydays", but now housing value capitulated greatly. They are stuck while making two mortgage payments; don't collect enough rent to cover 2nd mortgage and continue to flash $$ in the toilet. They don't want to get out and ruin their credit, when most are simple handing their keys to the bank. On the other hand, we have friends in San Jose and throughout the Bay Area making so much more but are renters only because of HIGH COLA.
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