property values v income in usa, page-61

warnie

just to be clear

if median wage is $60K

and housing hits 10x median wage

a typical house will cost $600K

repayments will be $2,200 a fortnight

$60K P.A pays $1,800 a fortnight after tax

so how does the average person then buy/rent an average house?

You seem prety sure this works so please explain it!