"then i filled it in again with somone on a good wicket
Married $85K P.A 2 kids $200pw car loan $350pw living expenses hold credit card with $5K limit
this one can borrow $237K
not bad when the median house price in Melbourne is $480K he just needs $243K deposit!!"
My comments:
Many of us here will not regard earning $85,000 per annum as being "on a good wicket" as you state. In fact earning $85,000 per annum before taxes, supporting a wife and two kids, having a car loan etc. etc. looks very much like a battle to me.
If you are in that situation you can't expect to pay $480,000 for a home. You have to set your sights much lower.
Many of us here probably can't imagine trying to survive like in the example above you gave.
Personally I've never had a car loan. Never will have. It doesn't make the slightest sense to me to borrow money to purchase something that seriously depreciates in price. If you can't pay for it with cash then don't buy it.
We eat organic food. Just four of us having a simple soup, foccacia, small dessert and drink of coffee at an inexpensive organic cafe costs $160.00.
How can you manage that, or more substantial organic dining on a regular basis using the above example you have given of what you call "a good wicket."
