But surely some logic and common sense applies when talking about a loan of mid to high 100k's for a person in there early 20's to pay off.
You'd have to be a janitor with a really bad drinking problem not to pay it off before you were 30.
170k is not even 1000 per month in interest with the last rate drop. Bust or boom I'm quite confident I can cough up 250 per week in interest. 300 to be safe with rates, body corp etc. Plus a healthy 400-500 per week in principle.
The thing that worries me is people talking of 50% drops.. The fellow I bought from @ 260k, he purchase it for 92K.
The faeces would really hit the fan if property in Toowong QLD 4066 went that low.
Can someone actually paint the bleak picture of how it can drop 50% from todays? Keeping in mind the bank valued it at 315k last month.
