Trying to Live on $500,000 A Year (Part VII) - The Summer Homes
Oh these Wall Street types have gumption. Instead of being able to live in one nice home, they have to have two. They have to have a place to go to just for a few days a year. They can't spend a few hundred dollars, they have to spend hundreds of thousands, hundreds of thousans per year. Here is their expense according to the NY Times:
A summer house in Southampton that cost $4 million, again not the top of the market, carries annual mortgage payments of $240,000.
Again these pigs think it's funny that they are going to spend $240,000 on mortgage payments per year for a home they rarely live in. And I'm supposed to bail them out?
If you can't afford the home, sell it. Or you can do what many others do in the Hamptons, you pool 10 people together and rent a place for a few weekends. These Wall Street pigs don't need the home in the Hamptons. They can learn to live on "only" $500,000 a year.
A summer house in Southampton that cost $4 million, again not the top of the market, carries annual mortgage payments of $240,000.
Again these pigs think it's funny that they are going to spend $240,000 on mortgage payments per year for a home they rarely live in. And I'm supposed to bail them out?
If you can't afford the home, sell it. Or you can do what many others do in the Hamptons, you pool 10 people together and rent a place for a few weekends. These Wall Street pigs don't need the home in the Hamptons. They can learn to live on "only" $500,000 a year.
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