Quote:
Originally Posted by acottawa
I think you're overestimating incomes or underestimating the current mortgage requirements of banks.
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I might be over-estimating the percentage of professional couples in Ottawa but I in fact under estimated the buying power of at least my second fictional family. An EC5 which is a basic entry level government policy job in Ottawa after five year pays a salary of $94k. Putting $50k down BMO using the posted rate (which is the qualifying standard but you would crazy to pay) says a couple who makes a combined $188k a year can afford a $900k house.
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