Budgeting Basics 101: The "goes into" has to be more than the "goes out of."
Here's a recipe for disaster. Sonoma County California is one of the most expensive places in the United States to live. The median home price is $500,000. The median wage is $20.00 per hour. You tell me how in the hell the following happened:
1. What financial institution would give a 1/2 million dollar loan to somebody who earns $20 bucks an hour with little or no money down?
2. Who are these people who think they can afford such loans?
Is it any wonder every other house is for sale? A-DUHHHHHH.... now we have the mortgage meltdown with daily news of the worsening crisis. Any idiot who can add 1+1 could foresee this mortgage fallout happening. I guess schools on all levels have completely ditched basic, useful math from the curriculum.
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