A Boring Dystopia

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givesomefucks@lemmy.world

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A family of 5 downsized to a one-bedroom apartment to escape feeling 'house poor.' Saving money hasn't been the only benefit. (www.businessinsider.com)

submitted 2 weeks ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] givesomefucks@lemmy.world -2 points 2 weeks ago (1 children)

Where did you get the extra $200?

They get 2,300 and spend 1600 by living in the apartment and renting.

$700/month and equity.

But obviously it's more of an issue when it scales up

[–] Breezy@lemmy.world 3 points 2 weeks ago (1 children)

They still pay the mortgage of 1400 a month as well.

[–] CarrierLost@infosec.pub 3 points 2 weeks ago

Yeah they’re still technically $700/mo in the negative.

$1400 mortgage + $1600 apartment is $3000 in expenses. $2300 income from the rent gives them an outlay of $700 they still have to come up with for the apartment.

So for strictly housing costs, they pay $700/mo. That likely doesn’t include all of the other things they need: food, transportation, medical, utilities, etc.