ttc wrote:
Normally you buy a house for, at most, 3X your annual income.
At some point, they won't be pro runners anymore. I hope they paid off this house, or the next one before their running careers are over. Even afterwards, they'll likely have some insane real estate taxes. This is how people get into financial ruin. Yea, I'm spilling a can of worms. But that's a lot of money, especially given the market is down, and that they may've paid more.
Who knows the current balances, but they put 10% down in 2005 on the $683,300 purchase. There is a 2009 mortgage for $165,000 on the $410,000 land purchase.