An interesting graphic from the esteemed Economist
https://www.facebook.com/TheEconomi....6013004059/10152680348974060/?type=1&theater
https://www.facebook.com/TheEconomi....6013004059/10152680348974060/?type=1&theater
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An interesting graphic from the esteemed Economist
https://www.facebook.com/TheEconomi....6013004059/10152680348974060/?type=1&theater
Good question,but how long would it take to spend the mil once you have made it,took us 17 years and that was just over 14 years ago..
For making or spending?
350 years in Romania
They must have some serious tax rates!
Never realized Romania was struggling so much.
Many of the former Eastern Block countries have done pretty well. Poland, Hungary, the various Baltic states, not to mention Czecho/slovakia etc
I mean, it's fairly easy to reach 1mil in equity these days, you just buy a decent PPOR and you probably either already there or half way there
But, you may only have 1% of that 1mil equity
Lost me there
How do you only have 1% ?
What I meant here is the % of equity that you own vs % that the bank owns?
You can buy a 1 million PPOR, let's say with 1% deposit, yes the PPOR is yours, but you really cannot claim that you have earned 1 million in equity? No? The bank owns it
I think you might be confusing assets and equity?
If you have a $1m house with an $800K loan, you have:
$1m assets
$800k liabilities
$200k equity
Anyone with a decent job, has bought their first property by 25 years old or younger, who knows this site - should do it by 30 years old...35 if you don't want the pressure to over-accomplish.