Yah another interest rise will definitely hits alot of homeowners, esp the outer suburbs and working class.In the olden day of 12-17% interest rate, average house is only like 100k, now average price is 450k, so even at 8.5%, it gonna hurts alot. Imagine if it hit 10%..ouch..
anyway i am reducing my debt, sold 3 of my IP.
mortgage pain for 750000 owners, page-24
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