Hi All,
Reading an article today in the Melbourne Hearld Sun about affordablity of buying into the property market.
They said (in rough figures) 18 months ago, people were spending 21% of their average wage on paying off their morgage.
Now it is around 26% of average wages going into the morgage. The said in 18 months time it will be over 30% and that is when the banks start knocking people back for loans.
So in 2 years time, there will be alot more people out there wanting to rent.
Is it wrong of me to "prey" on people who can't afford housing or is it just business sense??
GG
Reading an article today in the Melbourne Hearld Sun about affordablity of buying into the property market.
They said (in rough figures) 18 months ago, people were spending 21% of their average wage on paying off their morgage.
Now it is around 26% of average wages going into the morgage. The said in 18 months time it will be over 30% and that is when the banks start knocking people back for loans.
So in 2 years time, there will be alot more people out there wanting to rent.
Is it wrong of me to "prey" on people who can't afford housing or is it just business sense??
GG