Holy “Your house doesn’t cost enough to live in my neighborhood.” Perhaps a new subdivision should carry the name “The Snobs of West County Line Road” instead of all those cutesy names like the “Oaks of”, the “Bends of”, the “Hollows of” – you get the picture.
A number of residents living in $200,000+ homes along West County Line Road have decided that – gasp – $130,000 to $180,000 homes will bring in the low-incomers and the burglars, thieves, and robbers. Anyone who follows my blog knows I dislike the exploding subdivision growth due to its detrimental and destructive impact on the core of the City.
But I have to say, what gall to label the price range of $130,000 to $180,000 “low income.” Let’s take a look at the monthly payment in that price range. At the low end of the poor people’s housing – $130,000 – the monthly payment based on a 30-year mortgage and a 6.25% interest rate would be $800.43. At the high end – $180,000 – the monthly payment based on the same two criteria is $1,108.29. Both figures do not include property taxes and homeowner’s insurance, which will up the ante even more.
Those residents who consider this low-income have truly lost perspective. They really need to change the designations of their subdivisions to reflect their unique and lofty status in this world.