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Originally Posted by WinnisquamZ
Do agree with what you say and support many of those services. My point was more towards new businesses starting and employees available to fill them. Both are limited or nonexistent today. The city and surrounding towns need to do move to support those needs and less of the current direction being taken
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OK so looking at the median cost of a house in Meredith right now according to Zillow is 369K. How exactly is the typical person living and working in the area doing landscaping, retail, working for a marina or in a restaurant going to swing a mortgage that is nearly 400K? Not going to happen, the numbers just don't add up. Especially when you add in the cost of every day living.
To afford a $400,000 house, for example, you need about $55,600 in cash if you put 10% down. With a 4.25% 30-year mortgage, your monthly income should be at least $8178 and (if your income is $8178) your monthly payments on existing debt should not exceed $981. (according to mortgage professor online)
That means you need just shy of a 6 figure income to afford the median house in Meredith. Even with two working, you'd be hard pressed to reach that threshold working these types of jobs.