Quote:
Originally Posted by OldDutch
I read in the article a household income of $100K can qualify for $700K mortgage. Wow.
Is a family completely house poor at that point? How do they afford cars, kids, utilities, repairs, vacations, etc.
Pretty obvious debt is the solution. I can start to see how this is getting dangerous here in Canada. People at that income should not be spending that on a mortgage period. Just a totally dangerous situation.
|
Even with a $450k mortgage, I wonder how families aren't house poor with a gross household income of $100k.