Quote:
Originally Posted by Red
With a 3% interest rate anyone with a pulse can "afford" a house.
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Since 2007, I have:
a) Never missed a mortgage payment
b) Made several lump sum payments directly against the principal to pay off my mortgage faster
c) Saved 10% of my gross salary to my RRSP account (plus my employer contributes another 5%)
d) Invested the $5,000 annual maximum to my TFSA
So no, I can't "afford" my home; I really can afford it. And I'm not even a member of the CalgaryPuck $100k Salary Club.