The food inflation crisis in the developing world has been front-page news. But spiraling food prices are much of a developed world problem, too.
The highest inflation in 50 years has forced them to change their shopping and eating habits—including cutting back on how much they tuck away at meals.
Call it “dietflation”.
If you are spending more than 5% of your income on a mortgage every month (60% of your income annually), you bought a house in too expensive of a neighborhood. Look outside of metro areas, shit gets much cheaper.
How are people only spending 5% on mortgage in a month?? I’m at 25%
The chart is talking about 5% of annual income per month on a mortgage, ie, 60% of annual income on a mortgage over the whole year. Which means you are spending under half of the average; which is absolutely where you should be!
The chart uses very funky units.
Nothing says ‘smart financial decision’ like moving three hours from work because all of the cheap houses are literally in the middle of nowhere.