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The age of decadence empires devoured from within, page-19

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Highlife

713 Posts.

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23/09/17

20:04

Post #: 27416589
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Originally posted by Highlife ↑

Are you serious ? I wonder

Wages was $25,000 with a mortgage of $50,000, that's only twice of your wages.

House was extremely cheap compared to your income then

Btw, $50,000 mortgage on a 25 years (let's say) loan is about $167/month repayments + interest that's about $200/month not per week. I think your memory serves you wrong.

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My apologies !

If interest rate was 17%, then repayment would have been around $200/month

But that 17% rate only lasted for 3 years or so, then came all the way down and wages caught up.

Average house price in Sydney is now more than 1 mil, that's 16 times increased in house price but wages had not increased by the same proportion.
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