Chris Bosh’s New $12 Million House in Miami [PICS]

I actually wouldn’t wanna live there, looks sterile and uninviting.

To those of you whom are assuming that he will be broke in x amount of years… I would say you probably have a valid case – just not for him purchasing a home worth 12.5 million.

Let us see, according to a 2007 estimate, the median income for a household in my city was roughly $130,000, and the median income for a family was right around $150,000. I live in one of the wealthiest suburbs in my area (home to many athletes in all major sports, musicians, authors, etc.). That said; guess how much the average family’s home is purchased for here?

It is 830k. And remember, that is the median home price – the majority are well above that.

So if the median income for a family who earns $150,000 were living in a million dollar home – would you say the same for them as you would Chris Bosh? I know couples (with family) that make fewer than six figures (we are talking just 50-75k tops – per year combined) whom live in 250k-300k homes – and that is with the dip in the market. Those same homes (average homes mind you) were 450k-500k just a few years ago… yet they made the same income. I did not hear anyone saying they would be broke. So why is it that a man whom just landed a 110 million dollar contract would [presumably] be broke by utilizing roughly the same percentage of his income as the aforementioned “average” persons?

(And this is a new contract – we are not figuring in what he has already made and is worth)

You also must factor into the equation that real estate is only going to increase in value at this point in time – so it is a wise investment – especially once the market picks back up. He will in all likelihood, make a nice profit from his purchase.

I understand that most athletes are broke within so many years of retirement, but the above comments (although few) are ridiculous. Let someone insinuate that you will be broke after purchasing a 250k-350k home on 50k income. Got news for ya…

That is mostly everyone presently – there is no more middle class.