What is a good rule if you are determined to become wealthy?
The market value of the home you purchase should be less than three times your household's total annual realized income. Also, if you are not yet wealthy, but want to be someday, never purchase a home that requires a mortgage that is more than twice your household's annual realized income.
-Interview with Dr. Thomas J. Stanley
-Written by Sheyna Steiner with Bankrate.com
See complete interview at:
http://www.bankrate.com/finance/financial-literacy/to-act-like-the-rich-be-frugal-1.aspx
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