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| Thread ID: 88496 | 2008-03-29 19:40:00 | Do you find your mortgage crippling? | pctek (84) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 654044 | 2008-03-30 00:28:00 | I thought this statement in the Herald article was interesting, as the bank should morally never have lent to them, if they made that statement. "We would have needed a $32,000 deposit and it was just too hard to try to save that amount." If they couldn't save that amount within a year, then they would never have been able to afford or have the self control to service the mortage, which would be far more difficut to service at $900 per week ($46,000 per year!). |
robbyp (2751) | ||
| 654045 | 2008-03-30 00:32:00 | www.nzherald.co.nz west Auckland couple both work 50 hours a week, with a combined annual income of $120,000, but are crippled by weekly mortgage payments of over $900 for a $375,000 house. I dunno but with $120K that leaves a lot of change? Do you find your mortgage hard to pay or are they just whinging?Whinging. Seriously I'm trying to feel sorry for them but just can't seem to do it Id be asking what else are they paying for on a weekly basis - what are they spending money on thats not needed, or because they simply want something and go and buy it. Smokes, booze etc maths -Round figures Mortgage $900 x 52 weeks =$46,800 Income = $120,000 So $120,000 - $46,800 = $73,200 = A lot of money even taking into account power, food etc...Exactly. Where is the rest of the money going? Socialising expenses, running the BMer and the second car too (probably a new Japanese car); keeping up with the Jones's May one or [preferably] both of them lose their jobs, and then really know what hardship is :D |
Myth (110) | ||
| 654046 | 2008-03-30 00:37:00 | Not trying to be a moron or anything, but the way many kiwis spend their money I have to say is extravagant. The way I see my kiwi friends spend their money is quite mind-numbing to me. Youse guys spend so much for a whole lot of stuff that you won't use at all or is just very expensive and pointless consumables. My parents would be very very very happy with 120k a year and a $3600/month mortgage. |
qazwsxokmijn (102) | ||
| 654047 | 2008-03-30 01:04:00 | Seems to be the fashion newspapers printing all this bleating lately. We live on $384 a week, I'd like more but thats why I opended a shop......... Then you get these poor things going on about not being able to afford a house in Ponsonby or some other trendy suburb. My son and new family get $32000 before tax. And these peoples problem is? He'd love $120,000 BEFORE tax. Still leaves them plenty I think. |
pctek (84) | ||
| 654048 | 2008-03-30 01:38:00 | Why the hell would you want to buy a house at the moment anyway? Already prices are falling... I'd wait for the lull | rob_on_guitar (4196) | ||
| 654049 | 2008-03-30 02:17:00 | I always wanted to be healthy, wealthy and wise, but I guess I'll just have to settle for two out of three. :) | Richard (739) | ||
| 654050 | 2008-03-30 02:21:00 | Healthy and wealthy? lol :p just kiddin | rob_on_guitar (4196) | ||
| 654051 | 2008-03-30 02:41:00 | Some old furnture is far more cool and far better made, than the rubbish you buy in these big box retailers. Have you noticed taht when you walk into a furniture store such as Harvey Normans, how you get hit by a toxic nausating smell when you walk in the doors, which I assume is the chemicals and materials they use in the furniture. I wouldn't want that in my house. I agree the chemicals are diabolical, I've made some of my furniture to fit the house and we downsized last year figured didn't need such a big house. Then changed jobs and don't have to carry builders tools anymore so sold my car too and now cycle to work. Rebuilt wifes computer for substantially less than a new one when it died too. All this so my wife could quit work to get her health back. Maybe they should sell the boat that goes with the B'mer and 4 wheel drive that is soo useful to going to the shops in Auckland |
gary67 (56) | ||
| 654052 | 2008-03-30 04:18:00 | Why the hell would you want to buy a house at the moment anyway? Already prices are falling . . . I'd wait for the lull I'm building a house at the moment, simply because I need a place to live! I could wait for the 'lull' and rent for 5 years, but rent is pretty high, and I may as well be paying off a mortgage than shoving money into a landlords back pocket . I agree that house prices could fall dramatically and I could owe the bank more than the house is worth, but we have come off quite nicely at the moment and have a buffer between cost of mortgage and valuation of completed project of about 20% . I brought a section about 18 months ago and it has gone up in value by about 40%, I then used that equity to back the mortgage . I got lucky, found an undervalued section and brought it with the help of my parents . If I hadn't found that section, I would have had to have a crippling mortgage . So in answer to the OP's question, no, my mortgage isn't crippling . |
pine-o-cleen (2955) | ||
| 654053 | 2008-03-30 04:23:00 | I am sooo glad I own my own home! Hubby and I worked very hard for that privilege and we had two young'uns at the time. Had to pay a $6000 deposit on a $23,000 home, basic three bedroom lockwood in 1976. That works out to about one third of the total cost. Interest rate was around 9% at the time. Wages were stuff all in the Post Office, we managed ok and were mortgage free after 10 years. That home is now worth $430, 000. Don't live there now though. Didn't buy stuff on the never never and if we couldn't afford anything we just didn't have it. Cut your suit according to your cloth, an old saying I know, but you can't convince some people. I would love $120K per year and don't know what the fuss is all about. |
lakewoodlady (103) | ||
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