Quote:
Originally Posted by zilo
Mortgage repayments were in after tax dollars....ouch!
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my dad's house was about $25'000 and 3KM from the brisbane CBD.
I'm told that back then, any additional $$ you repaid over the minimum repayment went straight to the loan so the faster you paid it off, the less you paid in interest.
I'd take that sort of arrangement with that sort of house-price-to-income ratio with the 17% interest any day of the week. I'm not sure why some people keep calling the younger generations lazy when they just had the luck of buying in better economic circumstances.