“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
It’s always been pretty interesting to me how crazy the price of living changes. $1650 a month for a house seems insane to me.
Greater boston area, not inside boston. Malden/Medford/Everett/Chelsea area. Everett and Chelsea are NOT desirable.
The smallest of places are 650k+ here for 2br minimum. You can find 1br condos for 500-600k sometimes.
We’re talking about 20-100yo+ homes. Not new construction. There’s no “luxury” involved. No yard or acreage. Often no parking included.
At a certain point - isn’t it just cheaper to move to a cheaper area?
Not that it’s easy. It’s what I had to do. 6 hours away from friends/family.
Wages took a 25% hit. Bills took a >50% hit so came up on top.
In order to keep your mortgage at 1/3 your income, you would need to be making $700,000/yr.
You’re calculating it based on take home pay or something? because 1/3rd of 700,000 / 12 = $19,250/mo
Household income is about 230k. Mortgage comes out to less than 50% of take home pay. 230k/12 = 19166/mo (gross) 4500 is 23% of gross income.
Afaik every couple around here by 30 with professional experience and a degree is making over 200k (so 100k per person.) I’ve seen IT support roles for 100k+ (example from the highest paying company i’ve ever seen, liberty mutual insurance: https://searchjobs.libertymutualgroup.com/careers?location=Boston%2C Massachusetts%2C United States&department=Technology&pid=618496295577&domain=libertymutual.com&sort_by=relevance )
