It's only Monday and this is the bar that's been set for dumbest thing I'll read this weekhttps://www.marketwatch.com/story/joe-biden-defines-income-of-400-000-as-wealthy-but-heres-why-its-barely-scraping-by-for-some-11602010209 …
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There’s unfortunately zero incentive for the wealthy to behave in any other way.
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A $1.6M home on a $400K household income, w/young kids, is how you end up house poor. The conventional wisdom that your mortgage should be up to 25% of your gross income is ridiculous. More like your total housing costs. That house is about 20% more than they can afford. (1/n)
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And those daycare and preschool costs are off the charts. That's high-end even for Manhattan or San Francisco. (2/n)
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