Quote:
Originally Posted by Leondros
I think the assumption people have debt is pretty irrelevant to the affordability considerations as an apples to apples comparison city to city would be the same.
My analysis was pretty high level but did include living costs of roughly $1,000 per month. I am not saying it would be a comfortable lifestyle but who's lifestyle is comfortable at minimum wage anyhow?
As for the percentage sure you need to use that for the stress test but I was talking about actual dollars. There are homes in the $300 - $350K range in Calgary if you really want to start splitting hairs...
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Also have to define comfortable.
Is comfortable having the money to afford a roof, utilities and have a picnic in the park with your family on Sunday?
Seems like most people think comfortable is a $1,300 iPhone.