Close to 2 years salary in 2000.
Paid it off around 2017.
I wanted to own a home, not be owned by one.
Our payments took some cash, but we weren't pinched
We enjoy living modestly, with the cash to do
what we want. I laugh at friends who earn more than i, and
fret buying a gun for a grand. Can't imagine enslaving yourself
Like that.
Comparing home price to income and affordability is
fraught with danger if you use it for decisions.
Living costs everyone the same amount of money.
But those costs are absorbed differently considering income.
A family of four might live comfortably on $60k for instance.
Modest home, older but good cars, good food but not premium.
And they aren't saving much(or paying a big mortgage).
Same family, and income, if they have to drive new cars/big
entertainment, they cant afford to buy a home.
Give them $120k, and now they can buy a$500k home. If they
live like the first example.
It's all about priorities.
