Just wondering on people's mortgages in these crazy times.
For those who actually live in their mortgaged homes, please no investors
How are you finding your mortgage? How are you feeling?
How Big Is Your Mortgage?
hasher22 on 03/07/2023 - 23:00
Last edited 03/07/2023 - 23:18
Last edited 03/07/2023 - 23:18
Poll Options
- 48No Mortgage (own home)
- 11No Mortgage or rent (living with others (parents, relatives, friends etc...))
- 24Renting
- 9$1 to 100k
- 13$100k to $200k
- 24$200k to $300k
- 30$300k to $400k
- 29$400k to $500k
- 41$500k to $600k
- 12$600k to $700k
- 15$700k to $800k
- 7$800k to $900k
- 7$900k to $1m
- 11$1m to $1.2m
- 4$1.2m to $1.4m
- 6$1.4m to $1.6m
- 3$1.6m to $2m
- 3$2m+
- 5$3m+
- 34$4m+
Comments
or broker?
.
Mortgage or mortgage minus offset?
The owner of the house I live in has no mortgage. He hasn't been in the country for years, I feel certain he's going to sell it any day now. All around me houses are being demolished and big fancy houses going up on million dollar lots. He's going to call me one day sounding all nervous knowing he's about to tell me to gtfo. I'm (profanity) if he does..
Maybe he'll offer to sell it to you for the price of the land?
Hey you can only ask.
How Big Is Your Mortgage?
Which one?
"actually live in their mortgaged homes"
how many do you live in?
add them up if multiple
.
First and second.
How big is your mortgage?
Too big..
Can't pay off a mortgage if you are busy paying off someone else's.
Sometimes it's way better to pay rent (if you can get the right rent) and save than pay interest to the biggest ponzi scheme the world has even known. If rent exceeds interest then might as well get that death contract and pay it off asap.
Not sure why he is getting negged.
There are definitely scenarios where renting makes more financial sense.
@EightImmortals I do agree with the your premise on renting. Let's breakdown paying interest on a mortage though. In most scenarios the growth of the property value will outpace the cost of the interest. The current official AUD rate is at 4.1%, only the most undesirable properties grow at less than 4.1%. So it makes sense for the majority of people who have no other invesment vehicle to channel their excess capital over their liftime into something that outpaces both the interest rate and the inflation rate.
The problem now is the barrier to entry is prohibitive for the majority of people, and the ratio of property to wage growth pushes out almost everybody. You can thank both the Federal Reserve and the RBA for the money printing as well as the property developer conglomerates who artificially limit the property supply.
@Dubious speculation: Indeed, and don't forget that the various government taxes add about 45% (as of 2010 anyway so it's probably more now) to the cost of a new house.
@EightImmortals: Exactly. The next question then is, why do we pay taxes if they just print the money? ;) Obviously it's more complicated than that but the sentiment remains. The only way to get ahead for most young people is to get more leverage out of your time and start a business with more upside potential than being employed.
For those who actually live in their mortgaged homes, please no investors
Investors have feelings too
tree fiddy
It is on steroids!
Albo gave it Viagra.
It works a bit too much…why only stop at 4m+..
People are using that as the bikies option.
Lols
$4m mortgage - 25 liars on the poll
How Big Is Your Mortgage?
That is what she said!
You don't want to know. I'm an accidental landlord 3 times over.
Surprised no one has asked this yet - are you asking for amount mortgaged or amount owing on said mortgage?
most people have commented with the level of respect this poll deserves i.e. troll comments.
You missed the people owing 1c to 99c (option).
What’s the repayment on an $4m mortgage?
$23,000 a month
far out.
1.2 million to go.. bought a year ago at the peak… Did a combination of fixed vs variable. I didn't think interest rates would go up so quickly, hindsight I would be laughing if I went all fixed.
Overall we're still doing okay, out repayments have increased but as we were putting in extra to our offset account nothing has changed for us, only now our offset is growing slower (which we're saving in other ways to compensate)paid off
Through a bank