Reply to Would you take a $950k mortgage on 300k salary?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My God $950k mortgage!! Can you find a cheaper house?[/quote]

When you make over $300k a year this is not too much of a stretch. We bought our first house 16 years ago for $500k but times have changed.[/quote]

I'm sorry it is. We are just addicted to debt in this country. Starting with a $950k mortgage should not be normalized.[/quote]

Your claim is completely without context.

I'm sorry, but $1m isn't what it used to be.

Better to stretch for a house you want for a long time, than skimp, and have to move at least once, and pay all those transaction costs.[/quote]

I guess it depends where you live. If starter homes start around $800k in your area then that's a different story. But I am always nervous taking that kind of mortgage because you are then under pressure to always have a high salary. I am a software developer who used to make $300k
 I was laid off and it took me a year to find another job and the best I could do was $150k. Thank God I didn't have a house otherwise I would have had to sell.[/quote]

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