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lostmypeachshorting t1_j5enoq8 wrote

Reply to comment by h1g440rs3 in The dichotomy of FT by Johs92

1600 is our monthly mortgage. That is less than we paid to rent a 2br apartment. That is 800 per person. Even with a minimum wage job I can afford it. Low rates really were a blessing

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ThetaForLife t1_j5f6nvf wrote

How much is your area’s minimum wage? Lots of places still pay $7.25-15 or $2900-$4800/month if both work full time. After tax it is likely be $2300-3800. After $1600 mortgage it is $700-$2200. Hope 2 adults can pay for: food, electricity, phone, internet, gas, clothing...etc with $700-2200.

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DiriboNuclearAcid t1_j5gr9y1 wrote

Another thing that could be an issue is that those middle class tech workers getting laid off probably have a mortgage payment much higher than $1600 a month. Not to mention those people have families which is even more expensive than just 2 adults. If enough people default then we have 2008 part 2.

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