the banking model does not account for kids, job losses career changes etc. It calculates 2 wages by 30 years thinking your going to work 40 hrs a week paid until your 65 then gives you a loan for 800K.
Reality check for the banking model should loan 95% of one wage earner and about 65% of the other
the figure would come to about 620K max therefore bringing the average earnings multiple down
- Forums
- Property
- housing affordability
the banking model does not account for kids, job losses career...
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online