return2ozma@lemmy.world to News@lemmy.world · 6 months agoConsumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist saysfortune.comexternal-linkmessage-square194fedilinkarrow-up10arrow-down10cross-posted to: usa@lemmy.ml
arrow-up10arrow-down1external-linkConsumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist saysfortune.comreturn2ozma@lemmy.world to News@lemmy.world · 6 months agomessage-square194fedilinkcross-posted to: usa@lemmy.ml
minus-squareBeardedGingerWonder@feddit.uklinkfedilinkEnglisharrow-up0·6 months agoJust to add to this, there’s zero chance you’re getting a 13x mortgage. For a 375k house on a 25k salary you’re going to need something more like 250k to start.
minus-squareastreus@lemmy.mllinkfedilinkarrow-up0·6 months agoTo add to this, the rule of thumb in the UK is your maximum loan is 4.5x your salary. The average worker could borrow about £157,000.
Just to add to this, there’s zero chance you’re getting a 13x mortgage. For a 375k house on a 25k salary you’re going to need something more like 250k to start.
To add to this, the rule of thumb in the UK is your maximum loan is 4.5x your salary.
The average worker could borrow about £157,000.