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09-17-2008, 01:40 AM
  #42
eco's bones
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Join Date: Jul 2005
Location: Elmira NY
Country: United States
Posts: 13,554
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Quote:
Originally Posted by vladmyir111 View Post
So what you're saying is basically we need the government to tell stupid people not to buy a half a mil house on a 30k a year job....

I don't agree and it will all come out in the wash in the end.

As far as producing nothing and relying on services for our economy. I agree with you and sadly that won't be solved anytime soon and is our biggest problem currently.
Encouraging these pipe dreams is the problem. It's not ethical. To go further and to kind of answer Radek's question about buying a house--back in 87 when I bought my home the rule of thumb used by real estate agents and lenders was that the buyer could not afford more than twice his or her current base yearly salary. In other words if you were making $25K you could not afford more than a $50K home. If of course it were two people each making $25K for a total family net base income of $50K a year you could afford up to a $100K.

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