More Seattle restaurants close doors as $15 minimum wage approaches

gerryh

gerryh

Time Out
Nov 21, 2004
25,756
295
83
a 156,000 dollar mortgage at 3.39% is 770 per month. That 156k get's you a brand new 1 bedroom condo with some upgrades on the 3rd floor of a 4 floor condo. Brand new, not converted.

39% debt to income ratio. 34% mortgage to income.


Good thing your "girlfriend" isn't in the business anymore. Or maybe that's why "she" isn't.
 
Cannuck

Cannuck

Time Out
Feb 2, 2006
30,245
99
48
Alberta
gerryh said:
a 156,000 dollar mortgage at 3.39% is 770 per month. That 156k get's you a brand new 1 bedroom condo with some upgrades on the 3rd floor of a 4 floor condo. Brand new, not converted.

39% debt to income ratio. 34% mortgage to income.


Good thing your "girlfriend" isn't in the business anymore. Or maybe that's why "she" isn't.
Click to expand...

You forgot about insurance and condo fees
 
S

Sal

Hall of Fame Member
Sep 29, 2007
17,135
33
48
petros said:
My daughter works at a pub as a server. She pays her mortgage, car loan and insurance with her tips. Groceries, school expenses and gas with the $13.50 an hour.

I rarely hear "dad I need $xxx" anymore. I pay her tuition of $24,000 a year and the rest is up to her.

Question is ; " if she wasn't a hottie, would she be able to do that?"
Click to expand...
you have to be a hottie plus understand how to handle people and have customer service skills over the top

I am glad for your daughter and your pocket book and it won't be her career, but for others it will be and one is only a hottie for so long, then one needs a livable wage

I actually know a teacher who works at one of the steak houses here....she won't give up her serving job because the tips are so good

I would like the employer to absorb it instead of me when I eat out
 
Twila

Twila

Nanah Potato
Mar 26, 2003
14,698
73
48
Cannuck said:
Obviously you're telling tales or its a shyte hole. $800/month for mortgage/taxes/insurance/mort insurance and condo fees isn't going to get much.
Click to expand...

You forgot strata fees. Condo's can have very high strata fees.
 
SLM

SLM

The Velvet Hammer
Mar 5, 2011
29,151
3
36
London, Ontario
Sal said:
I would like the employer to absorb it instead of me when I eat out
Click to expand...

Don't kid yourself, you'll still absorb it. It'll just be buried in the price of the meal instead of an add-on based on the customers view of the service provided.
 
EagleSmack

EagleSmack

Hall of Fame Member
Feb 16, 2005
44,168
96
48
USA
captain morgan said:
I think what you meant top say was that 'the tissue is not my girlfriend'... Hence, the sock puppet.

A technicality to be sure, but a sock puppet is still not a real g/f
Click to expand...


 
B00Mer

B00Mer

Keep Calm and Carry On
Sep 6, 2008
45,061
7,397
113
Rent Free in Your Head
www.getafteritmedia.com
Cannuck said:
In not talking about down payment. I'm taking about front end ratio. Do you know the difference?
Click to expand...

Actually, nope I don't know the difference, because I have always paid cash, up front.

Why would anyone need a loan when I can buy a 2 bedroom Condo, 1 bath, wood burning fireplace, for $50,000 to $60,000USD.

I'm sorry, but home prices in Canada are screwed. $250,000 to $300,000 for a Condo in Airdrie, I would never pay that for a condo or home. That's friggin crazy.

The minute you take out a loan, the price has doubled in Interest. Always pay cash.

1301 Memory Lane #4922, Arlington TX 76011, North: Condo.comâ„¢

1310 Harwell Drive #4714, Arlington TX 76011, North: Condo.comâ„¢

2301 Balsam Drive #M202, Arlington TX 76006, North: Condo.comâ„¢
 
gerryh

gerryh

Time Out
Nov 21, 2004
25,756
295
83
condo fees, 160/month. Some of the lowest in Calgary. The point is, it IS possible to live on 15/hr full time. Calgary is not the cheapest city in Canada to live in and my son's are living proof that it is possible.
 
S

Sal

Hall of Fame Member
Sep 29, 2007
17,135
33
48
SLM said:
Don't kid yourself, you'll still absorb it. It'll just be buried in the price of the meal instead of an add-on based on the customers view of the service provided.
Click to expand...
maybe so but I don't like how they divide out the tips either

I really would rather it be included, and I don't like how some restaurants say "we will be adding another 15% for tip"
 
SLM

SLM

The Velvet Hammer
Mar 5, 2011
29,151
3
36
London, Ontario
gerryh said:
condo fees, 160/month. Some of the lowest in Calgary. The point is, it IS possible to live on 15/hr full time. Calgary is not the cheapest city in Canada to live in and my son's are living proof that it is possible.
Click to expand...

I'd be willing to bet with the low mortgage rates still being offered, adding on condo fees,utilities, insurance and property taxes it still probably squeaks in under market rents on a monthly basis too.
 
gerryh

gerryh

Time Out
Nov 21, 2004
25,756
295
83
SLM said:
I'd be willing to bet with the low mortgage rates still being offered, adding on condo fees,utilities, insurance and property taxes it still probably squeaks in under market rents on a monthly basis too.
Click to expand...


Yup, everything in he pays less than he would for rent of the same thing.
 
SLM

SLM

The Velvet Hammer
Mar 5, 2011
29,151
3
36
London, Ontario
Sal said:
I really would rather it be included, and I don't like how some restaurants say "we will be adding another 15% for tip"
Click to expand...

Personally I've only ever seen that if it's a big table with multiple bills or a very large party. And they're usually up front with it, so I'm okay with that.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
110,309
11,792
113
Low Earth Orbit
gerryh said:
condo fees, 160/month. Some of the lowest in Calgary. The point is, it IS possible to live on 15/hr full time. Calgary is not the cheapest city in Canada to live in and my son's are living proof that it is possible.
Click to expand...

It's all about managing your money. $7 pints and $60 bags of weed add up fast.
 
You must log in or register to reply here.
Top Bottom