21thirty-graf01-190“I want people to have more than a house, I want them to have a life, too,” Mr. Birkofer said. “The application of the 28/36 rule can be an eye opener and a ‘go slow’ or ‘reform now’ sign.” The original maxim of a week’s pay for a month’s rent was also based on take-home pay, given that it predates the federal income tax system, which formally started in 1913, said Danilo Pelletiere, research director at the National Low Income Housing Coalition.

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thanks to Glenn Kelman for bringing this story to our attention

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