A chart of the minimum qualifying income you’d need to purchase the median priced home in every Bay Area County.
pic.twitter.com/yRd3ZSfZtd
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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| Country | Code | For customers of |
|---|---|---|
| United States | 40404 | (any) |
| Canada | 21212 | (any) |
| United Kingdom | 86444 | Vodafone, Orange, 3, O2 |
| Brazil | 40404 | Nextel, TIM |
| Haiti | 40404 | Digicel, Voila |
| Ireland | 51210 | Vodafone, O2 |
| India | 53000 | Bharti Airtel, Videocon, Reliance |
| Indonesia | 89887 | AXIS, 3, Telkomsel, Indosat, XL Axiata |
| Italy | 4880804 | Wind |
| 3424486444 | Vodafone | |
| » See SMS short codes for other countries | ||
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A chart of the minimum qualifying income you’d need to purchase the median priced home in every Bay Area County.
pic.twitter.com/yRd3ZSfZtd
Yikes! This reflects a question I have about promoting downpayment assistance for first-time homebuyers in the Bay Area. If most of us don't have the income needed for a mortgage, even with 20% down, can downpayment assistance really work?
It is probably helpful for some categories of workers. The other thing about this chart is a household taking on this level of debt has to feel confident that it can continue earning this level of income for the following 30 years.
But yeah, only one tool in a toolbox of many.
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