Religions

I want to survey religion’s view on savings, but this will take a while so it’s a little TBD.

Progress will be 27.2% at the end of today.  Didn’t get any BM tix, so $2000 en route back to bank account.  I also prepaid my home and car insurance, so that uses up some cash… I think it’s emotionally good to do it (and simplifies the monthly budget, which is always good), but maybe not the best decision to deplete the cash more.  But that amount won’t make a difference proportional to everything else.  Would be nice if I got a little discount for paying it up front, but I don’t.

http://www.mercurynews.com/business/ci_29670665/starter-home-crisis-san-jose-first-time-buyers

 

  • In the Oakland area — where the tech boom has spread, driving up prices — the typical buyer of a starter home would have to spend 69 percent of household income to afford a 30-year fixed mortgage, with 20 percent down. That’s 29 percent more of the income than would have been needed in 2012. The median price of a starter home in the Oakland area is $374,000, according to the report.

  • As bad as that sounds, consider the plight of San Jose starter homebuyer, who would have to spend 87 percent of household income to afford a mortgage — 27 percent more than in 2012. The median price in the San Jose metro area is about $586,000.

  • Finally, San Francisco metro buyers would have to pay a whopping 110 percent of household income to afford a starter home mortgage — 25 percent more than in 2012. The median San Francisco metro price is $714,000.

I lol’d:

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