Is $1.1 million a compromise (compared to $1.8 million)?
i shudder to think what a loan repayment looks like on even that price....so I looked it. Up. around $6,000 per month for 300 months..... (stamp duty, LMI)
bad luck for you if one of your income earners bust a gasket. Esp with flatline wage growth
(this would involve a family income topping over $250,000 (taking into account rates & taxes, super, children, partner, living expenses, two cars, holidays, oops forgot the private school fees) 30% of income marker is $216,000
seems to me we have quite a few average earners getting into this racket - mind you no mortgage, no kids two $80,000 salaries you could save $500k for that yacht in the marina within 7-8 years so I suppose it is doable
still I suppose housing has just become another commodified stock market product.