8. Overextended Buyers

overextended006-copy.jpg We bought and we’re suffering.
Kraft dinners, no holidays, five jobs, etc.

2 responses to “8. Overextended Buyers

  1. This from Agitprop at RE Talks, a story of a couple that are extended, if not quite overextended:
    Posted: Thu Feb 07, 2008
    “My brother and his wife, make about 100K a year. She shops at Value Village, they have no kids, she drives a company car and my bro drives a car he bought second hand for about 11,000. They take the odd frugal vacation and have no kids. Their house was purchased 8 years ago, for about 300,000. in North Van. I can’t say they’re just scraping by, but if they have kids, they’re going to have some kraft dinner days.”(a)

  2. Income of $100k and they can hardly afford a mortgage on a $300k property? Maybe they have a coke habit.

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