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Technically, but that's moot as there's two incomes so not really what we're discussing. And the only way that happened is because your partner earns the same a
by mattmanser 4y ago
Technically, but that's moot as there's two incomes so not really what we're discussing. And the only way that happened is because your partner earns the same as you.
People used to be be able to easily afford houses on a single income. My old boss, for example, bought a house alone when he was 25 and rented out a room. And that was back when tech salaries were low, especially in the UK where it was viewed as a perfectly normal job and no better paid than, say, a teacher.
That's just not really possible these days, a 25-year old teacher could never buy a half decent 3 bed house alone.
- adhesive_wombat 4y agoThat what I mean. The "borrow 3-5ish times your household salary" hasn't changed that drastically (especially considering interest rates have been fairly low). What has changed is that the baseline is borrowing that multiple of two salaries to buy the same house.