Crankyhawk
Brownlow Medallist
I was claiming that they would be severely mortgage stressed on the median Sydney property and assumed mortgage size. And in a way agreeing that they shouldn’t borrow so much (which is where my 800k mortgage came from, using definition of mortgage stress as 30% of pre tax income)I know what the take home on 190k is, you're paying almost 50% of your income on your mortgage
There is no way you should have been able to borrow that much
They kind of were but it was more related the 1600 cranky was using instead for their calculations
What is mortgage stress and how to avoid it? - loans.com.au
A mortgage is typically the biggest monthly expense a household can have. If you get into financial trouble or rack up too much debt, you may experience mortgage stress.
www.loans.com.au