3 ms·
Most people owe at least 400% of their yearly earnings on their house, at least initially.
by nateberkopec 6y ago
Most people owe at least 400% of their yearly earnings on their house, at least initially.
- minkeymaniac 6y agoNot any different than taking yearly rent, multiplying by 30 and see if it is 4 times yearly salary. At least with a house you will have something after 30 years. In ten years.. your mortgage will be the same (property taxes won't be) Rent will for sure be higher after 10 years in the same place. But there are benefits to both renting and owning
- ivanche 6y agoUnfortunately that's true. I also read somewhere that the most expensive house one can afford is yearly_salary * 3.