I saw an article somewhere out there today.... they are considering changing the criteria..regarding affordablity...on the following basis... two income families ,with no kids...can easily afford the inner city prices... but since the cost, used by the banks and most econimics people, valuers etc...say the price per annum of having a child is $10,000 extra per annum.... that families with children...require a different criteria in the calculations, regarding affordability factors...or indices
so hopefully in the future...they will produce a more realistic index..... only non children families can afford to pay the prices to live in the inner city.... and depending on the number of children in a family the index will reflex the affordabilty ratio for the outer suburbs...
so lets see....if you have one child...you need to earn and extra $10,000....AFTER TAX INCOME 2 kids = $20,0000 AFTER TAX INCOME.... get the picture.....
on another forum this week....posters were bragging about having 3, 5, even 7 kids.... so seriously....start doing the sums.... whinge all you like about the cost of housing..... but the banks have done the sums....they are much smarter than you...... they know what it costs to feed and house and educate 2 or more kids.... and you demand to live in the most popular city in the world...
may I suggest India....is more appropriate to your budgeted lifestyle...and probably more accommmadating, to your way of life...
