1 out of 8 over a mil, page-23

  1. 35,472 Posts.
    lightbulb Created with Sketch. 2863
    "however the income of the top 10% of households starts at $170k."

    The income might start there, but most people owning $1m + houses/ property don't have any mortgage.

    Only a fool would maximise full household income with say 10% down to buy a $1m property.

    I am glad you got the gist of my point though.

    Using median wages to say $1m plus houses are unaffordable is plain silly. If you're on $50k, you obviously are not going to get a $950k loan..

    Even more silly is trying to, even attempt to bring in a PE ratio to justify it.

    That's loony bin stuff.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.