this post was submitted on 03 Dec 2023
1391 points (99.3% liked)
Political Memes
5415 readers
3240 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Someone told me recently that one should only spend max. 1/3 on housing. After showing them the price for housing and the average salary, they connected the dots. But they didn't seem to realize the Elephant in the room. I wonder when society is ready for the elephant.
I personally like how it is from the boomer generation that the 1/3 rule comes from as well. Keep in mind that is 1/3 for ALL housing expenses (water, heat, electricity,insurance, etc.), The US median is $1085 a week. This means all in a median Joe/Joette should find a place for under $1500 ALL IN in order to meet this rule.
Always remember that paying rent is a never ending cost while pay mortgage is limited. If you rent, you rent when you are retired. If you can buy, you don't pay for your house anymore when you are retired. In other words, not buying a house/Appartment means that you will have less money in your retirement... Up to 2/3 of your current salary.
I doubt anyone stuck renting their entire life are able to retire properly.