Interest rates hit an all time high of 17.5% in 1990. Average house price at the time in Sydney $194k. I'd guess therefore that a shoebox apartment back then would have cost no more than $100k? I'd sure rather pay 17% on debt of $100k that 5% on debt of $500k, especially with inflation running at about 1% and stagnant wage growth.
- Forums
- Property
- OUCH CBA drops lending ratio for investors
Interest rates hit an all time high of 17.5% in 1990. Average...
- There are more pages in this discussion • 48 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)