Originally posted by: TheNinja
How the hell do you people in the Bay Area have a percentage under 40%? Did you buy a long time ago or do you just make a ton of cash?
This does not apply to me as I do not own,
but most at my work are in the 50%+ range provided their wives do not work. Remember, approximately 25% of your mortgage+property taxes are covered by the tax effect as you now have a huge writeoff on your 1040. So house payment + taxes = $5K/month. You actually only lose $3,750 of your check as the rest will come from upping your deductions.
If you are a college grad 3-5 yrs out of college and are married to a college grad 3-5 yrs out of college there is no doubt you are pulling at least $150K in income a year.
Engineer with 5yrs of experience = $110K Wife who is a teacher of 3yrs = $45K
Finance guy 3yrs out of college $75K Wife - Accountant 3yrs out of college $75K