3 ms·
>What's the cost to get to that point? It used to 2x annual salary, it's now nearly 6x annual salary. It's just not. You're not accounting for the interest pa
by treis 5y ago
>What's the cost to get to that point? It used to 2x annual salary, it's now nearly 6x annual salary.
It's just not. You're not accounting for the interest paid over 30 years of a mortgage.
- PaulDavisThe1st 5y agoNo, I'm assuming best case: zero interest. You might be arguing that 1970's cost-as-multiple-of-earnings plus 1970-accumulated-interest exceeds 2020's equivalent. Is that your point?
- TheCoelacanth 5y agoThat "best-case" is unrealistically favorable to the 1970s buyer. In 2020, you can almost get that zero interest mortgage. In the 1970s, you are going to be paying at least 10% on top of that.