The thing about housing is, an $800,000 house doesn’t really cost you $500,000 more than a $300,000 one. Assuming no huge economic shocks (this is quite an assumption these days, but bear with me), a house is an asset. The only real “cost” is the interest you pay on any loan to pay for it (or loss of interest on the capital tied up in it) which at current rates is almost zero. Then when you consider a 160km daily commute, presumably costing you a minimum of 2 hours a day, without even considering fuel costs / wear and tear, if I could afford the mortgage, I know where my money’d be going!
Biting the hand that feeds IT
