Comments on: Apartment Hunting in Brooklyn http://www.midlifebeginnings.com/?p=55 xxxx Mon, 12 Jul 2010 07:12:17 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Jay http://www.midlifebeginnings.com/?p=55&cpage=1#comment-114 Jay Mon, 07 Dec 2009 04:50:29 +0000 http://www.midlifebeginnings.com/?p=55#comment-114 Actually at $125,000 per year, $3000 would fall within the 40x rule for us. That said, $3k per month is about $1k more per month than I want to spend on rent. I am glad I stuck to my rule to sleep on it before signing anything! Now I have to talk myself out the $465k 2-bedroom condominium that I saw today where the banker on site was more than happy to work out a mortgage with a 3.5% down payment, and had no problem with me spending 50% of my gross salary on housing. Seemed like a flashback to the days of subprime....FHA loans are going to be the next disaster. It sure was a beautiful apartment though..... Actually at $125,000 per year, $3000 would fall within the 40x rule for us. That said, $3k per month is about $1k more per month than I want to spend on rent. I am glad I stuck to my rule to sleep on it before signing anything!

Now I have to talk myself out the $465k 2-bedroom condominium that I saw today where the banker on site was more than happy to work out a mortgage with a 3.5% down payment, and had no problem with me spending 50% of my gross salary on housing. Seemed like a flashback to the days of subprime….FHA loans are going to be the next disaster. It sure was a beautiful apartment though…..

]]> By: Sensibility http://www.midlifebeginnings.com/?p=55&cpage=1#comment-113 Sensibility Mon, 07 Dec 2009 02:43:09 +0000 http://www.midlifebeginnings.com/?p=55#comment-113 You would be a fool to spend $3000+ on an apartment. You're glossing over the fact that the 40x rule makes sense for both the landlord and the renter and focusing on the fact that you might be able to dodge the rule because of the "economy". Save your money. You really don't make that much for NYC. You would be a fool to spend $3000+ on an apartment. You’re glossing over the fact that the 40x rule makes sense for both the landlord and the renter and focusing on the fact that you might be able to dodge the rule because of the “economy”. Save your money. You really don’t make that much for NYC.

]]> By: Paul http://www.midlifebeginnings.com/?p=55&cpage=1#comment-112 Paul Sun, 06 Dec 2009 05:18:44 +0000 http://www.midlifebeginnings.com/?p=55#comment-112 It will be interesting to see what you end up with. You can have a really nice place. Do you have a limit on what you are willing to pay based on your debt reduction goals and your hopes to do something different? It will be interesting to see what you end up with. You can have a really nice place. Do you have a limit on what you are willing to pay based on your debt reduction goals and your hopes to do something different?

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