patrick.net

http://finance.yahoo.com/blogs/daily-ticker/most-outrageous-acts-corporate-america-143024400.html

eBay's Home Economics. To lure Thomson Reuters executive Devin Wenig to move across the country and take a post as President of eBay Marketplaces, the giant internet firm offered some nice goodies: a salary of $750,000 and $2.4 million in restricted stock to start, a $10,000 monthly temporary housing allowance, and frequent travel for Wenig and his family from coast to coast (business class of course). Then there's this: a $1 million "home purchase payment" that he can apply toward the acquisition of a starter mansion. That should be enough for a down payment — even in Silicon Valley.

If the bank put his mortgage at 28% of gross salary, that would be $17,500/mo. Assuming 5% (pretty jumbo here, so it'd be a higher rate), 30-year fixed, that would be $3.26M for the mortgage, so $4.26M with a $1M down payment, even if he puts no more money down. $10K/month for the temporary allowance gets you a pretty nice place too.

#housing