So I'm hoping to make $169,000 this year

I was talking to my mom on the phone and she was talking about how they paid off the mortgage a while ago. She told me that when they had us 3 kids, my dad had one week where they had only $6 left, because they paid the mortgage that week.

I was like -- WHAT??? --- YOU COULD PAY THE MORTGAGE ON ONE PERSON'S SALARY???
And what's more, my dad was paid weekly so it was just ONE WEEK'S SALARY.

God in heaven! My attorney husband's salary takes two weeks of work to pay one week of mortgage -- and we have a cheap house.

So I pulled together some stats:

Current Nerstrand Stats
(Where my parents live)
A house down the street for them sold for $120,000 recently. Some sold for more, some less, we'll use $120 as our average.

Mortgage on $120,000, with 5% down, FHA 5.5% interest:
$642 each month
$78 taxes
$720 total

To pull in a salary to pay that mortgage payment in one week's salary, you would need to make $57,200 per year.

The factory my dad was working in when they bought the house is still around. My sister works there now too, and she is not making ANYWHERE near $57,200. I think salaries there are in the high $20k-$30s for the average workers.



So now let's do St. Paul.
I pulled the average house price for my area, Merriam Park. Average house price is $329,530.

Mortgage on $329,530, 5% down, FHA 5.5%
$1777 payment
$338 tax
$2115 total


To make $2115 after-tax each week, you would need to make $3250 pre-tax, for a pre-tax income of, yes, $169,000.

I don't know anyone that makes $169,000 in a factory when they are 28.