Mortgage Repayments

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Originally Posted by Ace

Then there is the issue of people buying houses with bugger all of a deposit, i dont think this is the borrowers fault it is the fault of the bank for allowing people to over extend themselves.

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I think if I tried hard enough (and had the inclination) I could go out and buy some crack or heroin. Am I being a dickhead for buying it or is it the drug dealers fault for selling it.

Someone mentioned it before but perhaps better education or some sort of 'life skills' subject in High School would be good but ultimately while there is demand in this end of the credit market there will be supply. I agree with the sentiment that there is no one to blame for anyone’s financial situation but themselves.


Thanks for an interesting topic:)

I just googled Australia average wage and came back with approx. $1110 per week. I assume that is before tax. For the record, both my girlfriend and I are on below average wages and we have no trouble paying our mortgages.

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Originally Posted by Slunnie

11.85% :eek:

I'm on 7.85%

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Our most recent mortgage, 8.25% fixed.

1 mortgage between you and no kids?

repayments on about 150k are about one weeks average wage. borrowing more than that technically puts you into mortgage stress. where can you buy a house for 150 to 180k and still be able to pull in the "average" wage?

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Originally Posted by Lotz-A-Landies

But yes driven people do make it good, however my societal philosophies (I won't call them socialist) would like to see each generation make it better for the next. We, this global corporate capitalism seem to be diametrically oposed to doing anything for the common good.

It is obscene the dollars/euros/swiss franks many corporate chief spivs make each year. It is more than any one person could spend in a dozen lifetimes and is all at the expense of shareholders who are treated no better than the brokes, bums and borrowers these thiefdoms rape and pillage to make their filthy megaprofits.

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I have to disagree with the your post here Diana. CEOs and the like don't thieve, rape and pillage even though I do believe they are massively over paid, their contribution to society has made the world a better place.

Take for example the company I work for. Our CEO started the company in the late 80s and has built it up to be the large successful listed company that it is today. Currently we employ over 600 people around the country. The management that the CEO has provided, the direction and the decision making that he has made day in day out provides me and 600 others with a living.

Yes he is very rich but he has created work for 600 people. What he has done is hardly diametrically opposed to doing anything for the common good.

Diana
PERKS
Buying a house 5 years ago in a small country town for $41000.
Services are not what most city people get,no public transport,small general store for food,pretty expensive.
ONLY 1.5 hours from Perth/Bunbury or Mandurah,2 and a bit to Albany on the south coast.
The perk is to buy when we did and enjoy the value escalating to plus $225000 at the moment in such a short time.
The perk value to me is I bought dirt cheap,BECAUSE I HAD TO WHEN I BOUGHT.Was thrown out of my employers accomodation due to a back injury.
Had 2 choices.1 house in town for rent at the time $100 week.To buy this place $50 week.NO MATHS NEEDED!!!
Andrew

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Originally Posted by procrastination inc

1 mortgage between you and no kids?

repayments on about 150k are about one weeks average wage. borrowing more than that technically puts you into mortgage stress. where can you buy a house for 150 to 180k and still be able to pull in the "average" wage?

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About to be three mortgages. No kids. At this stage it is a choice to have no kids. Perhaps in the future that will change. If so, we will adjust any mortgages to reflect our incomes. The house we have just purchased is in Hoprsham, Victoria. $151 000. Three bedroom, plus study. One bathroom. Good shed. She is a teacher, I will do whatever it takes.

I am technically in "mortgage stress". Those are just words to me that have no meaning.

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Originally Posted by procrastination inc

1 mortgage between you and no kids?

repayments on about 150k are about one weeks average wage. borrowing more than that technically puts you into mortgage stress. where can you buy a house for 150 to 180k and still be able to pull in the "average" wage?

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Exzackery, before we had kids and only a 2 bed house we were on easy st, but try paying a mortgage on one average wage with 2 kids - and eat !

Kids are a choice. You make your decision and you live with it.

I got a job at 16, after failing year 10:eek: and have been on over 6 figures for the last 2 years and around 70-80 for a few before, I also work on cars on my off time to substitute my costs (drinking $100p/w smoking $30p/w) and playing with cars, less fortunate...........Pfft, wayne kerrs, get off your ass and do something about it, I'm with Stevo68 on this, life is what you make it, you need to rule it yourself:angel:

P.S. I'm 24 and a know it all:D but with me and my missus we combine near 160k a year gross, why? because I worked HARD to get there..............But I don;t work hard now, I work SMAT (simpsons funny:D)