Like how long would it take if you save about half your post tax salary to afford a mortgage? 2-3 years maybe?
Like how long would it take if you save about half your post tax salary to afford a mortgage? 2-3 years maybe?
Not sure that specifically moving away from cities to a detached low density dwelling is a good test of anything
Yeah I'm not disputing that housing has gotten a lot more expensive, of course it has. I'm on a good income and basically can't buy a place anywhere in urban Australia any more, and in my city of under half a million people, the median price of dwellings is about 9x median income now, higher for free standing houses.How many hours do you need to work to make the down payment on a house is a good test and spoiler, it's gone up a lot
Expectations gone way down. No one seriously thinks about home ownership before age 40 unless they're really well off.The problem with this scenario is trying to measure two different things: the quality, including size, and the inflation-adjusted price of housing between then and now.
Our incomes have gone up, but so too have our expectations.
Alright then? You can afford to own a comfortable apartment outright in a large city for yourself and a few dependents after a bit of college and half a decade of work.Not sure that specifically moving away from cities to a detached low density dwelling is a good test of anything
Yeah living in suburbia is pretty crap.Just criticising the specific monomania for large detached dwellings in low density areas.
No, I can't lol.You can afford to own a comfortable apartment outright in a large city for yourself and a few dependents after a bit of college and half a decade of work.
Renting often better than owning when it comes to many things but not a home. Who wants to live in a society where people are dependent on greedy landlords and rising rents.Also there's a lot of difference in owning vs renting by country, and it doesn't really correlate with general wellbeing. There's something to be said for systems where you don't need to buy in order to have housing security and a good quality of life.