#housingmarket #mortgages #heisesays
Some folks have large mortgages.

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41 COMMENTS

  1. I disagree on a few things. One is renewable energy the other is that people should have lost their houses during covid lockdowns. We literally were not allowed to open our businesses.

    That’s pretty harsh I know life is not fair but that was not a time for austerity. That all the stimulus was channeled into stocks and housing… well that’s another thing. Interest rates were already too low before the government turned on the money canon dropped the interest rates on the floor. Now we have to pay, but at least we can work.

  2. Time to take responsibility for our own actions. The Reserve Bank always presents information in a way where it can be interpreted based on the changing conditions. Putting your life in their hands was never really a smart move.

  3. Inflation is corrected by increasing interest rates. People who have bought more than they can handle unfortunately will feel the effects of increased interest rates. If the interest rates don't go up, the whole economy goes bust.

  4. $580k Avg loan is misleading. Many loans are split into variable and fixed interest parts. So the whole mortgage might be 1 mill but the 2 $500 splits are counted as two different mortgages in the stats. Hence the avg of the 2 mortgages is $500k!

  5. If the couple bought a $1.65M property in Sydney in 2019 that would almost certainly be worth $2M+. I cannot sympathize with them at all. They still have the option of selling for a great profit well before their loan converts to variable interest. They want the government to bail them out.

  6. Well if suckers want to pay stupid prices that's on them and that's how this market seems to work through self greed..yet for this country the population to land size and then opportunity over other places. Like u.k size of Australia's smallest state is actually cheaper even after the conversion.there are plenty of places you could buy a home cheaper no land tax stuck to you for life better job opportunity with higher populations as people feed of each other for survival.

  7. Iam a "boomer" due to my birth date, that I obviously could not control. Bought property in Perth, when no one attended house opens, except european builders! Then, the media jumped on the property market, and everyone wanted a house. Great, but it requires income, decipline, and knowing how the cycles occur in the market. The australian dream is not what its made out to be!!

  8. Was subscribed for a minute, then you mention that renewables aren't base load. That's going well currently with coal plants not working and leveraging the government to give them more.

  9. It was always going to happen.

    Just most people have short memories of what average normal long term interest rates are. Or they were born in the last 35 years and think that the recent ultra low interest rates are the norm and are neive enough and ignorant enough to think it will stay that way.

    Blaming and saying they believed the reserve bank is a copout and even then the reserve bank was only talking a year or 2 ahead. That's extremely short term and not long enough to risk borrowing large amounts of money for a 25 – 30 year mortgage.

  10. As an old Pen boy – I can survive & I will make SURE my family survive
    – I hope this generation can cut the mustard. I can live in a 4 x4 and use a bucket to have a dump in , can this generation ?? Its going to be interesting to see the Dog eat Dog world that's breathing down our necks

  11. Honestly, when I purchased my home a few years back. It was pretty obvious to me that rates were so low they only had one way to go, and that was up. So we borrowed a smaller amount, that meant not getting the ‘perfect’ home in the better suburb. Basically, we factored in a substantial rise in interest rates as a buffer.

  12. Don't LIVE beyond your means. This couple and ABC article looks utter garbage BULLSHIT. the couple must be High paying 6 digits earning couple if they got 1.6 million mortgage.

    Most of western countrues not produce much goods and with rise of China to NO 1 economy in the world.

    People think ahead of time before making huge decisions.

  13. Whyyyyyyyyyyyyyy do people have no fear being in that much debt??? I was scared 13 years ago when we borrowed 330k. We had the mentality of just pay as much as possible as quickly as possible. Rates then were much higher than today’s current rates.

  14. The story to me seems bs they have to save for years for 150k deposit and buy second hand clothes and then the bank gives them 1.5million that doesn't seem right to me

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