What are people's thoughts on the cost of housing presently? Is there a crisis? I was watching a 4 corners programme the other night and a young couple had just purchased there first home in Mascot for $1,700,000 and had a mortgage of $1,400,000. Their parents had to go guarantor on the loan. There must be a few Sydney residents on this forum with kids looking to buy their first home. Is this the norm? Would you guys do the same?
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Replies
Hope the opperation comes soon mate, all the power to you bro
I dont care if you are black. brindle, white ot yellow.....you are racist
You need a 🐐
Some guinea pigs will sort that out, you might lose sight of a few in the beginning looking at that but they’ll come into view eventually
Biggest financial rug pull in the history of the world is coming...
Whether you own your own home or 10, rent or are mortgaged to the hilt, we will all suffer when the global reset hits.
I was thinking something similar Frank. Well done to all those people who "own" homes. Unless you have paid the full mortgages already, you better be prepared for staggering rises in interest rates. They have gone up 3 times in the past 6 weeks and there are warning signs it could balloon out far worse.
If you haven't paid the mortgage yet, you don't own your home at all, the bank does.
I turn 65 next year,what i will do is take what i have in supper to pay off what i owe,rest is mine the banks , the gov can get stuffed or find the rough end of a pinapple to sit on it will be mine and no intrest rise will stop me , i then can work for as long as i like and still have some left from my supper to spend on me and only me,my two boys and daughter get the house, its no mansion but big enough for them to fight over ,so no money for you is what i will be telling them
I don't know anything about a global reset but I do know several people that have dived in the deep end of the mortgage pool in a big way in the past 12 months or so with the belief that the way things are now is how it's going to stay. I think there are going to be a lot of stressed out young aussies in a year or two if interest rates head north.
Frank, I have read very little about the Global Reset, I have seen some marketing about people not owning anything but being happy. What is your understanding of the Global reset and how will it affect people who already own their home outright.
You know even if you are mortgage free, stop paying your rates and taxes and see how long you own your own house.
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