RR: Farewell - Page 2

01-23-2007, 04:27 PM

"cc" <[Only registered and activated users can see links. ]> wrote in message news:ep6b8f$hse$[Only registered and activated users can see links. ]...
> G.T. wrote:
>> "cc" <[Only registered and activated users can see links. ]> wrote in message
>> news:ep67kh$ek8$[Only registered and activated users can see links. ]...
>>> cc wrote:
>>>> JD wrote:
>>>>> G.T. wrote:
>>>>>> [Only registered and activated users can see links. ]
>>>>>
>>>>> La Canada, eh? Does a dollar go further there too?
>>>>>
>>>>> JD
>>>>>
>>>> Le Canada. It's a boy.
>>> oh, you really did mean La Canada. my bad.
>>
>> La Canada is definitely a chick. And isn't Canada a chick, too?
>> Motherland or vaterland?
>>
>> But anyway as I researched my soon to be former home I came up with an
>> interesting tidibit of information. The median family income is around
>> $125,000 here while the median home price is around $1.5 million.
>>
>
>> How does a family which brings home around at most $8400 a month after
>> taxes pay a mortgage plus taxes plus insurance of approximately $8300?
>>
>
> Median is also not the same as mean, and says nothing of the shape of the
> distribution of home values/incomes.
>
> Five $100k homes and six $1.5M homes have the same median value as six
> $1.5M homes and five $5M homes.

Yeah, I know. But the question isn't about home prices anyway because
they're known and generally over $1.2 million for a house and $700,000 for a
condo. The question is really about the distribution of income, info that
isn't as readily available as home sale info.

Greg

01-23-2007, 04:50 PM

G.T. wrote:
> "Ride-A-Lot" <[Only registered and activated users can see links. ]> wrote in message
> news:[Only registered and activated users can see links. ] ...
>> G.T. wrote:
>>> How does a family which brings home around at most $8400 a month after
>>> taxes pay a mortgage plus taxes plus insurance of approximately $8300?
>>>
>> Interest only loan.
>
> Even better, negative amortization loans. Love those creative financial
> vehicles out there, nothing like getting further and further behind every
> month.
>

scary ****.