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To: robertpaulsen

It’s tough to understand folks sometimes -

I have a younger brother in law that’s planning on buying a 400k condo in Chicago when he graduates from law school. How the heck is someone fresh out of school thinking that he can afford the debt service on a 400k loan?


12 posted on 08/07/2007 8:39:57 AM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: MrB
I have a younger brother in law that’s planning on buying a 400k condo in Chicago when he graduates from law school. How the heck is someone fresh out of school thinking that he can afford the debt service on a 400k loan?

The starting salaries at major law firms, for 1st-year associates fresh out of school, are in the $130k-140k range, and go up substantially every year. Toss in huge performance bonuses and benefits such as relocation expenses, and your brother will be able to afford that condo.

For the vast majority of law school grads (like me) that did not make it to a major firm, let's just say I was not the only one that had to endure the nightmare of moving back in with my parents for a few years before being able to afford a modestly-priced condo. I hope your brother fares better than that.

15 posted on 08/07/2007 9:04:17 AM PDT by Freedom_no_exceptions (No actual, intended, or imminent victim = no crime. No exceptions.)
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