Thread: Mortgage Repayments

Average wage.....

Ask a Plumber......


But i got a new company car.... YAY

The Reserve Bank sets interest rates not the Govt

Reserve Bank uses interests rates to keep inflation in range 2 to 3%

Where inflation booming economy drives inflation beyond that range they lift interest rates

If people want Govt to do something about interest rates it will be anti inflationary macro economic measures such as reducing govt expenditure on services to community, govt employment levels, raise taxes and excises

You cant have your cake and eat it

People have always struggled thats why we call them Aussie Battlers

Interest rates still cheaper than 1980's where under Keating l ended paying 23% on home repayments

Tell them to stop whingeing they never had it so good

Originally Posted by LandyAndy

Just got the letter from the bank.
Your fortnite mortgage payment has just risen from $119.60 PF to$121.83PF.
Got to be some perks to buying in a country town
Bought the place 5 years ago on the min deposit we could.
Could sell this week in the $225000+ area
BUT GOT TO BUY A REPLACEMENT
Andrew

Just got the letter from the bank.
13/08/2007 Your monthly mortgage payment has just risen from $1,268.82 to $1,301.76PM.
12/11/2007 Your monthly mortgage payment has just risen from $1,301.76 to $1,319.27PM.
29/01/2008 Your monthly mortgage payment has just risen from $1,319.27 to $1,339.28PM
16/02/2008 Your monthly mortgage payment has just risen from $1,339.28 to $1,380.85PM

And that is only one - the rental return comes no where close to the mortgage and I have to foot the maintenance, insurance, water, council rates and body corporate fees out of my own pocket with another mortgage for where I live for almost the same value.

No I haven't had a pay rise!

"perks" what perks?

Just got the letter from the bank.
13/08/2007 Your monthly mortgage payment has just risen from $1,268.82 to $1,301.76PM.
12/11/2007 Your monthly mortgage payment has just risen from $1,301.76 to $1,319.27PM.
29/01/2008 Your monthly mortgage payment has just risen from $1,319.27 to $1,339.28PM
16/02/2008 Your monthly mortgage payment has just risen from $1,339.28 to $1,380.85PM

And that is only one - the rental return comes no where close to the mortgage and I have to foot the maintenance, insurance, water, council rates and body corporate fees out of my own pocket with another mortgage for where I live for almost the same value.

No I haven't had a pay rise!

"perks" what perks?

Me thinks some of the "less fortunate" wouldn't mind being in your shoes ,

Regards

Stevo

Hard Asses

Must be something about us Stepho's, we is hardasses.

He said stuff that I refrained from. I largely support his commentary. At the end of the day your worls is precisely what you make it. Action and consequence, Choice.

It really is that simple.

Dunno about being hardassed , moreso a different perspective, though SWMBO might say I can be at times. Too many people think life owes them a living, that the problem is "out there" but don't realise it is the mirror image staring them back in the face, that there are "sinkers" and "swimmers" in life and the good ol " why does he/ she deserve that".

Ultimately, if you are happy sweeping streets for a living, good for you same as if you are running a multi national business earning a squillion along with the stress, risks etc, then also good for you, but where one is today, tomorrow and in the future boils down to the person staring back in the mirror,

Regards

Stevo

Originally Posted by stevo68

Me thinks some of the "less fortunate" wouldn't mind being in your shoes ,

Regards

Stevo

Stevo

You think I can still afford to have shoes?

I agree, as was said before my income doesn't have to afford kids, childcare, no hoper partner or all the rest and I am on an above average income.

That is my whole point, how can someone with a family and a desire to give their kids a decent life, education and future prospects ever hope to do that on the average or lower income and still buy a home as back up insurance for their old age. Let alone the bizzare myth of leaving anything for the kids to inherit.

Diana

I'm doing it on the average wage wit 4 kids

Though, I did get into the housing market in 96 before it all went silly and helped out by a moderate inheritance from my Dad. Hate to try to get into it now, was hard then. An $85K loan consumed over 1/3 of my income at very low interest rates.

But there are some choices that people make that they really need to look at.

When we go our second house the bank offered a HUGE amount of money. I asked them to recalculate what they would allow me borrow assuming only one income, no government payments and a 10% interest rate.

They were a bit surprised and still tried to push the sell on the big loan, but I got what I wanted in the end. Still comfortable and miles ahead on payments. Deregulation of the banking industry without suitable education and training for their customers has a lot to answer for.

Originally Posted by procrastination inc

without suitable education and training for their customers has a lot to answer for.

There is a huge amount of educational material out there, you just have to get off your backside and find it! (I am using the term you as a generalisation, not meaning you procrastination inc).