Consumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist says - eviltoast
"This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have."
  • BeardedGingerWonder@feddit.ukEnglish
    8·
    6 months ago

    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.

    • astreus@lemmy.ml
      5·
      6 months ago

      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.