mortgage pain for 750000 owners, page-6

"UP TO 300,000 Australians risk losing their homes this year as rising interest rates and the credit crunch fuel severe debt"


yoohoo!! wakey wakey everybody

"jingle mail" (letters with keys in them) here we come!

subprime crisis is about to hit Oz big time.

the housing bubble is about to deflated

By the way if you want to find out what a house/flat is really worth just add up the rent for the year and divide it by the interest rate.

eg $400 a week
$20,000/ 7 percent
the house worth $285,714

if the flat is selling for $300,000...forget it. Rent

Good luck to anybody who bought when houses etc were priced at what they were really worth..many years ago.