Money money money must be funny in a rich man's world

This article in SMH refers to
"one bank gave preliminary approval after an inquiry about a loan that would have eaten up more than half the borrower's pay, well above the official "mortgage stress" definition of spending 30 per cent of gross income to cover a home loan."
Well it got me interested in this percentage.
When I calculated, we spend 46% of our gross income on our mortgage!!!!
Is that wrong?

0 kindred spirits ~ This bugs them too!:

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