Alysha’s monthly income is $1,500. She is currently renting an apartment for $750 a month. She wants to buy a house. The mortgage would be $1,350 a month. Analyze her decision and state why such a financial decision is responsible or irresponsible.(1 point)
Responses
Alysha’s decision is responsible. Owning a home will stabilize her finances when she no longer has to pay rent.
Alysha’s decision is responsible. Owning a home will stabilize her finances when she no longer has to pay rent.
Alysha’s decision is irresponsible. She should only buy a home if she can pay cash for it.
Alysha’s decision is irresponsible. She should only buy a home if she can pay cash for it.
Alysha’s decision is irresponsible. With a mortgage payment taking up 90% of her income, she will likely have difficulty making payments.
Alysha’s decision is irresponsible. With a mortgage payment taking up 90% of her income, she will likely have difficulty making payments.
Alysha’s decision is irresponsible. Her home may depreciate in value after she buys it