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Originally Posted by Wagner
No you're flat out wrong Eric. My family had no car payments and a mortgage of $650/mth...now my dad still has no payment and a $300 dollar a month mortgage.
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Same here. My parents purchased our house for $58k in 1975. It was a rather medium sized 4 bedroom split level in an ok neighborhood. Their mortgage was a tiny bit higher than $650.
In 2006 they sold that house for over half a million. Sorry to say, but wages have not increased 10 times since 1975. More like about 3 times. $58k today won't even buy a trailer home around here. The cheapest one bedroom condos are over $250k.