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27,175 Posts.
693
28/10/12
16:50
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i read plenty of reports stating that years ago houses were 3 or 4 times the wage... now 9 times...
maybe thats the problem...
if people were limited to borrow only say max 5 times their salary...it may curb excessive borrowing, that is what has pushed house prices up....
a house worth say $1 million...but they are borrowing $200k...and have salary of 50K makes sense...
but $500k house borrowing $450K on salary of 50K does of.
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