From the Sun Sentinel in Palm Beach, FL, we have a pair of dueling banjos, Tal Abbady and Robin Benedick singing a song about: Palm Beach County housing expenses pummel paychecks.
"I've had to tighten my belt. We don't go out much. We don't live extravagantly," said retiree Ed Fuller, 65, who bought his house west of West Palm Beach three years ago.
"At least we've got the ocean down here to look at," he added of his outings to the beach.
The retired Anheuser-Busch dispatcher has a $2,200 monthly mortgage payment, about $100 more than his monthly income. He draws from his 401(k) account to make ends meet, but knows that money will dry up before his mortgage is paid off.
Why would a retiree on a fixed income buy a house that costs more than his income?
All together now: speculation!
I have news for you, Ed.
You're an FB!
The B stands for "borrower", and you can work out the effin' F for yourself!
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