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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Wyätt Gwyön who wrote (70868)10/3/2006 6:43:04 PM
From: Lizzie Tudor  Read Replies (2) of 110194
 
I half agree with you, its just that I remember when I was trying to buy a house in the early 90s with a high income, in those days these DTI ratios actually were observed and I thought it was *total BS*.

I don't need the government telling me, a single person at the time, that I need 10K/mo leftover for my personal needs. I had zero expenses and viewed my situation as favorable to the highest mortgage possible. In retrospect I would have been better off had I been able to mortgage 75% of my income, then. I was only 28!

I understand that bubbles are problematic but this 35% DTI has got to go, it discriminates against high income singles, and is a sweeping judgement on lifestyle. Maybe a higher DTI like 50% along with FICO would work. Anyway jmo.
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