Re: Do Dentists make more money than Doctors in USA?


Of course they can't. Look at the average incomes then calculate what
mortage a person would qualify for. If you put 20% (100k)down on a $500k
property your mortage would be $400k and banks generally give you a mortage
2.5 x your income.So you would have to be earning $150k per year and have
the $100k as a down payment. Even in NYC the average family income is about
$70k and there are also many $10hr workers as well. So how do most people
survive there? The answer is that there are about 1m rent controlled apts.
which appear to be passed down through families(and sometimes even unrelated
people) like family heirlooms lol So that many people are only paying
$300-500 in rent on something that might rent for 10x as much on the open
market. Former mayor Ed Koch was paying $300 for his rent controlled
Greenwich Village apt. while living at Gracie mansion. Also, there is a
small % of super rich who buy or rent all of these multi million apts. or
houses you see advertised in the Times. So while I think the high priced
market can't go on forever with prices rising; since this market only
effects a small group of people it very well may improve.

Banks only give loans of 2.5 times income? Here in Australia they will
often give loans of 5 times income, and our interest rates are higher
than the USA's.

.

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