Re: Mortgage repayment uncreases over the last 2 years?
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hi guys,
Now i know this was a long time ago and things have changed so much over the years but i always remember buying my first and second house in Western Sydney in 1991.
The first house my exwfe and i brought was in Penrith in Western Sydney and it cost $10000.i remember walking out of the bank that day and thinking " how on earth am i going to pay that back".
At the time interest rates were 10%. I wasnt earning a great deal of money in those days i was a driver for a department store in the city.
The second house cost $150000 and the rates had gone up 10.5% and with only $20,000 dollars left to pay on the house my marriage broke down and she got the house in the end.
I my second wife and i paid off our house long ago but we had it tuff but got there in the end.
I know houses cost a lot more now but it wasnt easy in the early 1990s also and at one stage interest reates were 17%.
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