Quote:
Originally Posted by b0son
It was less than half that within 2 years. If you took out a 25yr loan in 1990, you would have had an average rate of around 7.5% or less.
Median Sydney price 1990 - $155k ($27k avg wage)
Median Sydney price 2020 - $1.1m ($67k avg wage)
A 7.5% average lifetime rate would take 48% of your average income. A 2.5% lifetime rate starting today would take 78% of your average income. Rates dont really have anywhere to go but up right now.... and with a recession coming, what do you suppose the prospects are for your typical FHB today?
A lot worse than yours were....
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Hmmm..
What's this average lifetime rate?
Which bank offers it?
When is the recession coming...actual date please?
The rates are going up?....when?
My post was based on actual data not crystal ball gazing mate.