This is not a trick question.
|Numbers corrected based in comments. Cost of insurance added in. Utilities look low compared to what we pay.|
Then there is the added cost of commuting if you are not located close to your job.
If your kids are rough on the interior it is another $2000 for dry-wall repair and repainting the interior.
If your neighbor gets their kitchen redone in the latest, prestige countertop materials and you want to "fit in", that might be another $30k.
So, by the time you add up all the on-going costs of living in a 2200 square-foot, suburban house and honestly include depreciation...you are looking at $1000 a month to live in a Free House.
It happens with depressing frequency: People who are stupid with money (and this includes Marxists) confuse the "Markers of Wealth" with "Wealth".
I can start putting Ph.D. after my name but that doesn't make me any smarter. Nor does it mean I earned a Doctorate of Philosophy in anything useful. For all you know, Ph.D. means Post-hole Digger; a useful skill but it doesn't mean I am smarter than before I put Ph.D. after my name. "Ph.D." is a marker, not a fact.
A family that is stupid about money can acquire all of the markers of wealth but they won't have wealth. In truth, they will have dissipaters of wealth. Markers of wealth almost guarantee the holders of those markers will not gain any more economic power or economic freedom.
Stanley and Danko, authors of The Millionaire Next Door make the point that the one thing that rich fathers can do to guarantee that their children will NEVER become economically healthy is to give them the down-payment for a house in a neighborhood they cannot afford.