Wow that is rediculous - shows that people have no idea how to spend their money if they cannot have living expenses of less than $32400. Clearly it is not the HEM that is the issue it is people's living expenses. Rather than use this draconian method perhaps people should have to prove how much it costs them to live then they can add a factor to that. That way those that know how to manage their money are not penalised and those idiots who waste so much well their borrowing capacity is reduced further and they can't whine how they can't afford their mortgage down the track while continuing to live a lavish lifestyle.
