I pulled up one of the mortgage calculators on the interwebs to see how much house I could, in theory, afford. I do this every once in a while to a) dream and b) marvel at how crazy banks are for wanting to give me too much money. The last time I did this little entertainment exercise was about 2004 and banks were throwing high sums at these calculators (that approach worked out really well).So, I was curious to see if the numbers were more conservative now. I entered the basics, clicked calculate, and my eyes popped out. I placed my finger on the screen and started counting decimal places. Something was way wrong. The banks were crazier than ever. Oh wait. . . I entered yearly income on the monthly income line. Yup, that would do it.
What was even more eye opening, is a friend shared this website which advertises a Brooklyn penthouse for the tidy little sum of 25 million. Um, so if I made my yearly income every month that penthouse would still be a stretch. This really brought home the whole concept of wealthy for me. Holy cow, how much do some folks pull in on a weekly basis?! I probably shouldn't think about this before work!
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