Jul 14, 2008
Everyone knows that Merle Sneed sticks fairly close to the rules. I may complain about the rules and make fun of the stupid ones, but I really try to observe them. After all, what would society become if we all flaunted the system?
I was at the bank this morning cashing my giant hardware store job check, when I heard the guy at the next window having this conversation with the teller.
Guy: I would like to break this bill (a hundred).
Teller: Do you have an account?
Guy: No but my wife does.
Teller: Do you have the account number?
Guy: No.
Teller: Then I can't break the bill for you.
Guy: Can you look up her number?
Teller: Not if you aren't on the account.
By this time I was engrossed in the goings on and I noticed that the guy was disabled and walked with a cane. I think he had suffered a stroke.
As he shuffled away from the window I was struck with an inspiration. I stopped him and pulled out five twenties from my wallet and exchanged them for his hundred. Then I handed it to the teller and said, "break this for me." Which she did. What a stupid way to do business.
My friend Ched asks how much money a couple would have to earn to buy a $100,000 house? That really depends on a lot of things.
Let's assume that they were able to put down ten percent and that they could get a 6% loan for the balance. That would result in a monthly payment of $539 plus taxes and insurance. Let's call that another $500, because property taxes are high in New York, as I recall. That would make the payment a thousand bucks, give or take.
To my way of thinking, the couple in Ched's question should take home about $4000 per month, in order to comfortably make the payment. Or about $48,000 per year, again take home. The banks would probably let them get away with something a bit lower.
Forty-eight thousand take home would translate to about $62,000 gross, assuming that they had insurance and deferred compensation coming out of their gross pay.
This is all assuming that they don't have a bunch of other consumer debt and have good credit. People with bad credit or even suspect credit are no longer getting mortgages.
Hope that makes sense.
Things in this blog represented to be fact, may or may not actually be true. The writer is frequently wrong, sometimes just full of it, but always judgmental and cranky
Subscribe to:
Post Comments (Atom)
7 comments:
That was very nice of you Merle. You're a good person.
Damn, that a bank wouldn't break a bill for anyone despite not having an account...what's the point then?
Good 4 U! Bet he was Happy and it made his day.
Sometimes I fall asleep thinking about people dying. It's scary.
You're a good man, Merle.
Our corner bank will break a hundred for anyone - but only one. They also have a giant machine that you can pour your change into and get bills in return. It's free and anyone can use it. They also are dog-friendly and give out dog treats.
Property taxes in NYC are VERY low, unlike the rest of the state.
Dennis could never afford to buy anything in a major US city-- Los Angeles, Chicago, NYC have all closed their real estate doors to him. Too pricey. Sad, but that's how it goes.
Very well put. Couldn't have said it better myself! ;)
That fellow at the bank could have been a scammer, ya know. The cane, the big bill, the elderly disguise. You fell right into his clutches.
Post a Comment