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Planning to be house poor?

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  • #16
    I think many people stretch to get that first house. As long as you are taking a fixed rate mortgage, the house gets gradually more affordable as your income climbs. Our payment is the same today as it was 14 years ago when we bought the place, but our income has risen quite a bit, so the payment takes a much smaller bite of our take home pay.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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