From a leading national newspaper, USA Today comes the heartwarming story of a woman who has resorted to selling her eggs to make her mortgage payment.
Buyers in more markets find housing out of reach
Cortney Henderson is one of the faces of America's housing affordability crisis. She never could have qualified for a mortgage here — where the median home price is $607,000 — had she not had the $27,000 she made as an egg donor to use as "reserves" in her bank account.
Henderson, 31, who graduated last year with a Ph.D. in biomedical engineering and is now a researcher at the University of California, San Diego, still had to get a loan for the entire price of her $540,000 home. Without the $700 her boyfriend chips in each month, she could never cover the mortgage, insurance and property taxes, which still eat up almost 70% of her gross pay.
70% of gross?!? Have they lost their collective minds?
Do you really want this woman to be the mother of your child? And how did she get a Ph.D without knowing how to count?
1 comment:
For the record, I pay 28% of gross on rent, and I consider that to be very high.
Ideally, I would pay no more than 20%.
70% is lunacy.
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