How Much House Can I Afford?

Example Location: 84604 (Provo, Utah) Annual Household Income: $67,925 (Forbe’s Median Household Income of Provo) Monthly Spending: $1,000 Loan Type: 30-Year Fixed APR: 4.7% Annual Property Tax for Provo is 1.75% Recommended Price: $127,066 Recommended Max Price: $195,200 That buys you a trailer home. In Provo, the median home price is $303,300. Try it yourself […]

Single Family Homes are Too Expensive for Most Americans

How many first-time home buyers make $75k? That’s a starting salary for an engineering graduate from a good university. According to this PennyMac Home-Buying Guide: If you’re in the market for a home, the first thing you should do is figure out how much you can afford. Here are two down-and-dirty formulas you can use […]

Top 1% Includes Lots of Entrepreneurs

Salaries of the Rich and Wealthy Federal Reserve Shareholders (aka global elite?): Unknown but the Fed owns 4.5 trillion in assets so the shareholders’ wealth makes even the top 1% look poor. Top 1%: $423,090 Top 10%: $157,479 Notice these numbers are flawed if the top 10% includes the top 1%. If salaries were grades […]