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Finance - Investments Sub-forum: Non-Actuarial Personal Finance/Investing

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  #11  
Old 04-17-2019, 03:45 PM
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Mine's roughly 2x with 20% down. Buy my property taxes are silly high. Still, payment is a bit north of half a paycheck.
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Old 04-17-2019, 03:49 PM
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Over here in the UK, we usually buy at about 5x salary.

With 30-40 year mortgages (sometimes even 50 years).
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Old 04-17-2019, 04:02 PM
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Woof. I thought we were bad.
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Old 04-17-2019, 04:05 PM
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Over here in the UK, we usually buy at about 5x salary.

With 30-40 year mortgages (sometimes even 50 years).
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  #15  
Old 04-17-2019, 05:00 PM
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With wife's income our house is 1.2x, and the house is way more space than we will ever need. Gotta love the po.
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Old 04-17-2019, 05:10 PM
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5x salary, 30-50 yr mort? gag me. i'd probably never buy if those were the terms, but i don't live there so who knows?
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Old 04-17-2019, 05:14 PM
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5x salary, 30-50 yr mort? gag me. i'd probably never buy if those were the terms, but i don't live there so who knows?
Property is unaffordable for most people under 40. And renting eats up 40-50% of their salary in London even with only a 1bdr. Even couples (both working) spend 30-40% of their combined salary on rent.

The UK really is a basket case when it comes to buying/renting property.
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Old 04-17-2019, 05:30 PM
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  • My spouse and I spend 7% of our gross income on rent.
  • We are saving for a 20% downpayment on a house that is just under 2x our combined income.
  • We will probably spend 13% of our gross income on mortgage payments, property taxes, and homeowners insurance once we buy.
  • We live in a low cost of living area. The price of the house you buy will probably be more related to the area that you are living in than your age, credentials, and salary.
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Old 04-17-2019, 05:30 PM
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Originally Posted by The_Polymath View Post
Property is unaffordable for most people under 40. And renting eats up 40-50% of their salary in London even with only a 1bdr. Even couples (both working) spend 30-40% of their combined salary on rent.

The UK really is a basket case when it comes to buying/renting property.
that's what i've read.

we've always bought way less than what we could afford to spend on housing, but we weren't living in LA or NYC, so i'd guess you'd say we've always lived in the po'
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Old 04-17-2019, 05:32 PM
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Originally Posted by LifeIsAPoissonProcess View Post
With wife's income our house is 1.2x, and the house is way more space than we will ever need. Gotta love the po.
1.6x here with 2.5 acres as well. The po definitely has its advantages.
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