Just received a letter from the agent who handles my property advising me to increase my rent from $260 to $280 a week.
Received an email last week from CBA stating my interest rate will be 6.1% as of next week.
It now costs me $80 a week to pay off my house, not taking into account the positive of negative gearing or the negative of rates and insurance.
Given i dont have to sell, want to sell, and am not being forced to sell, id say in a max of 15 more years ill own the house regardless of what its "worth" and be receiving rent till my death bed. I bought in Dec 2007.
