why are we in a recession, page-106

yes 10% less is better, not arguing that point.

However....Lets say u need 10% deposit to buy.

On 400k its.............. 40k

On 360k (10% drop) its... 36k

Really not a big difference and lets be honest the hurt money is the initial deposit.


Any yes the saving over the life of a 25 year loan may well be 100k....... however the plan for most people is too pay of their property well before the 20 year mark in any event, and 100k is really here nor there when your buying now and waiting 20 years imo.

But IF you can wait and get the property u want 10% less then why not.

Or buy when rates are at or near their lowest and save a possible 2% p.a. on repayments anyway.