The most surprising thing here to me is that a home is 5 times annual income. That seems insane to me. That would mean someone making $250k per year would be ab

The most surprising thing here to me is that a home is 5 times annual income. That seems insane to me. That would mean someone making $250k per year would be able to afford a $1.25m home. I don’t see how that’d work, unless that person has almost no other bills and or lives in a state with extremely low income tax. After taxes and other expenses $250k / 12 is not that much. Certainly not enough to buy a $1.25m home.