For a person leaving within their means the total debt to income ratio (including housing expense) is around 35-41%.
My apartment rent was $1072.00 (1bd/1ba). My mortgage is going to be $1236.00 (3bd/2.25 ba). That's an income ratio of nearly 46% for rent; 48% for the mortgage.
No one I know
has that low of a income-to-debt ratio ratio of 35% - 41%. Those figures, for the Bay Area, are simply unrealistic.
So, yes, in my situation, a store would deny me credit currently. Three years ago? No problem.
It's fine. I paid cash. So I don't have that bill hanging over my head.
