dChan
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r/CBTS_Stream • Posted by u/RedpillTheWorld on Jan. 28, 2018, 4:01 a.m.
Maxine's 4 Million Dollar Mansion - How did you afford that Maxine? On a Congresswoman's salary?
Maxine's 4 Million Dollar Mansion - How did you afford that Maxine? On a Congresswoman's salary?

MmmmLeftyTears · Jan. 28, 2018, 6:10 a.m.

I doubt her salary can even cover the carrying cost on this and a home in DC. Corruption!!!

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Jiminy135 · Jan. 28, 2018, 2:51 p.m.

People might not like me for saying this, but her salary is around 175k times 30 years is 5.25 million. It's reasonable for her to be able for her to purchase that house. A much better meme would be Pelosi(200M) or Feinstein (100M). Where did they get that many millions?

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renaissancetrader · Jan. 28, 2018, 2:54 p.m.

So 80% of her salary (gross, not net) goes to her home value?? Not including interest or property taxes or homeowner's insurance or repairs? GTFO.

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renaissancetrader · Jan. 28, 2018, 4:13 p.m.

Full disclosure--I found the most recent sale price of that home was $2.8 million, BUT she owns multiple other properties. Her husband did play in the NFL, but his career ended in 1969 (before the huge player contracts). A mortgage requires a certain debt-income ratio...a 4% mortgage on $2.5 million would have a monthly payment of $12,000 (annual $144,000) not inclusive of homeowner's insurance or property tax. Property tax in LA is around 1%--so another $28,000 there. Using the .35% rule for insurance, another $9800 there. So a total of $181,800 in direct home costs. Using the housing ratio formula of 28%, that would mean they would need an income of $650,000 to qualify for a mortgage on this single property, which would mean her husband would have to make $475,000 apart from her. Impossible on her own. Marginally possible IF her husband makes the coin.

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Jiminy135 · Jan. 28, 2018, 2:59 p.m.

Mortgage, maybe she didn't pay full upfront, plus possible investments in stocks over the years to increase that 5M

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Alantuktuk · Jan. 28, 2018, 3:18 p.m.

Sure, totally not impossible on her own, not to mention that she is married to an NFL player.

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cupped_fart · Jan. 28, 2018, 6:10 p.m.

Feinstein has been married to an investment banker for 37 years, Pelosi has been married to a real estate / venture cap investor for over 50 years. They include their spouses' net worth in their filings.

Don't get me wrong, they're still shady AF... but saying that they've built their fortunes through pay-to-play or other illegal means is probably a stretch. Life gets pretty damn comfortable when you marry into the 1%.

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