≡ Menu

Weekend Reading – Sept 26, 2008

It appears that over 50% 15% of homeowners with a mortgages in the U.S spend over half their income on housing.  A bit on the high side don’t you think?

We’ve all heard talks of the big bailout and the markets react according to whether it’s going to pan out or not.  It seems that they are currently at a roadblock, but are resuming talks today.

Consumerism Commentary explains the importance of diversification in the article “who do you blame when you lose $6 million overnight?”

Canadian Capitalist shows us how to pick a winning mutual fund.

The Dividend Guy Blog gives us The Four Most Important Metrics When Evaluating Dividend Stocks.

Blueprint for Financial Prosperity explains How To Use Safe Deposit Boxes.

The Simple Dollar lists The Twelve Biggest Personal Finance Mistakes People Make Over and Over Again.

More links coming over the weekend!

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 9 comments… add one }
  • Avatar Canadian Capitalist September 26, 2008, 12:00 pm

    Thanks FT! Have a great weekend!

  • Avatar nobleea September 26, 2008, 12:15 pm


    I think the headline “It appears that over 50% of homeowners with a mortgages in the U.S spend over half their income on housing” is misleading. The article appears to say over 50% of homeowners with a mortgage spend over 30% of their income on housing.”

    According to the article, only 15% of homeowners with a mortgage spend over half of their income on housing.

  • Avatar Dividends Anonymous September 26, 2008, 3:14 pm

    The Dividend Guy’s post on what are some of the “Four Most Important Metrics When Evaluating Dividend Stocks” was probably one of my favourite posts of the week.

    Good job on the Green Shift post giving both sides of the current/proposed plan. Sadly it’s not being discussed and will likely be decided on by how individual voters interpret the plan through the media coverage.

  • Avatar Gates VP September 26, 2008, 4:30 pm

    Yeah FT, nobleea has it:

    the numbers are:
    15% mortgagees spend 50%+ income on mortgage
    35% mortgagees spend 30%+ income on mortgage

    50% mortgagees spend 30%+ income on mortgage

    FTA: But now an estimated 10 million homeowners owe more on their mortgages than their homes are worth

    20% mortgagees owe more on mortgage than the home is worth

    (and I suspect that number is getting worse)

    Thanks for the great links.

  • Avatar OilyGasMiner September 26, 2008, 5:25 pm

    Great sources, homeowners are being burnt left right and centre. We are living in an age where “savings” and a “retirement plan” are only a dream for the vast majority. We have bailouts in place to benefit institutions while consumers receive the blunt end of this “super plan”. The US trade deficit is rising at a rapid pace and is nearing the $7TRILLION dollar markSource . Almost sounds like we’re talking about a monopoly game here. Wait a minute… hmmm I think I’ll take Board Walk. Have a great weekend everyone.

  • Avatar Thankful For Fools September 26, 2008, 7:39 pm

    It’s not completely unreasonable to assume those numbers if housing considers all the bills involved in maintaining a home.

    I wouldn’t want to be int hat position, but I do know how I would be able to do it.

    I always love more information on dividends though. I love the weekend reading, FT, thanks again.

  • Avatar MultifolDream$ September 27, 2008, 1:18 am

    This number for US is shocking. It would be interesting to see what it would be for Canada.

  • Avatar Finance Guru September 27, 2008, 2:12 am

    It is interesting to note that people spend over 50% on Mortgages. Looks like Finance 101 principles and caution are thrown to the wind

Leave a Comment