spmatich :blobcoffee: on Nostr: #[0] that 6x multiplier is in regards to repayment capacity. As I see it getting the ...
npub1trdnqrfstufc45awha43p6xy2n0v6czuhapzh4r09hap08dg0c6s9gussx (npub1trd…ussx) that 6x multiplier is in regards to repayment capacity. As I see it getting the deposit together is still the major hurdle. Example a 20% deposit on $600k is $120k. If you earn $100k and have a family and don't own your own home, I can't see many single income families being able to buy before 10y of careful saving. Even if two adults are working it will take a while to get there. By which time, what you can get for your 600k is considerably less. Many first home buyers use the bank of Mum and Dad in Australia. NZ is probably similar. If you don't have a bank of Mum and Dad this 6x ratio is not going to make any difference. Generational inequality will not go away in a hurry.
Published at
2023-04-04 23:47:33Event JSON
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"content": "#[0] that 6x multiplier is in regards to repayment capacity. As I see it getting the deposit together is still the major hurdle. Example a 20% deposit on $600k is $120k. If you earn $100k and have a family and don't own your own home, I can't see many single income families being able to buy before 10y of careful saving. Even if two adults are working it will take a while to get there. By which time, what you can get for your 600k is considerably less. Many first home buyers use the bank of Mum and Dad in Australia. NZ is probably similar. If you don't have a bank of Mum and Dad this 6x ratio is not going to make any difference. Generational inequality will not go away in a hurry.",
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