That's 6.3 times income, 45 per cent of their pre-tax income, and 54 per cent of after-tax income. Those figures deeply are in the mortgage stress zone, according to the overseas mortgage stress calculators. STUFF Mortgage stress calculators overseas are designed to show people when they are considering taking a home loan that is too large. Some people reckon it's 25 per cent of pre-tax income, some 32 per cent, some 40 per cent. Urban mega-mortgages may be unfair, but are they perilous to people's financial futures?

Source: Stuff July 22, 2019 21:24 UTC