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Originally Posted by Kybosh
Good advice, I wish I had been better at budgeting and put away 10% of my $1500/month. Come on, it isn't simple as that and depends on a lot of other factors.
It's funny though, the bank classifies me in one of the highest earning potential brackets (which is why I was able to get my mortgage) but I struggle to make ends meet even with my frugal lifestyle. Stupid academic research.
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It is that simple my friend. If you put way 10% of that take home, you're right you may have had to wait to buy a home/condo. Rent for a few years until your income catches up with being able to afford a place to buy.
I'd also like to mention that most people forget - owning property isn't a right, it's a privilage. Most people feel entitled to ownership these days when there's absolutely nothing wrong with renting.