Quote:
Originally Posted by fliptuner
The cost of the house is irrelevant. What matters is how much they have to mortgage. But even if the mortgage is 750k, 100k/yr isn't enough to cover it and still feel relatively safe.
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hang on a minute. are you saying the amount of debt someone takes on is irrelevant?
In the very short term, you are correct, but mortgages are usually 25-30 year debts - that's a long time to suggest debt amount (akin to purchase price) is irrelevant