by Punk Rooster » Thu Nov 09, 2006 9:48 am
MW wrote:Why rent and pay someone elses mortgage?
Ralph Wiggum wrote:That's where I saw the leprechaun. He told me to burn things
by Wedgie » Thu Nov 09, 2006 10:50 am
Punk Rooster wrote:MW wrote:Why rent and pay someone elses mortgage?
Because $230 is my maximum outlay/week
$330 for a unit would be minimum outlay/week
Quite simply, it was a lifestyle decision.
by Pseudo » Thu Nov 09, 2006 11:06 am
Wedgie wrote:Stupid people stretch themselves to follow "the Great Australian dream" when they'd be better off renting.
A couple stretched by their mortgage only needs a gas heater to go, termites to invade or their car to blow an engine and they're stuffed.
by Booney » Thu Nov 09, 2006 11:18 am
by Dutchy » Thu Nov 09, 2006 12:17 pm
Pseudo wrote:Wedgie wrote:Stupid people stretch themselves to follow "the Great Australian dream" when they'd be better off renting.
A couple stretched by their mortgage only needs a gas heater to go, termites to invade or their car to blow an engine and they're stuffed.
and what irks me most about that is that everyone suffers as a result.
Cheap low interest loans not only available but being rammed down our throats = people spend more on housing & mod cons
Johnny Jackboot gives free money to new homebuyers = people spend more on housing & mod cons
Johnny Jackboot gives free money to breeders = people spend more on housing & mod cons
... and when people spend more on housing & mod cons, the prices skyrocket. Supply and demand. The most simple law of economics.
In sum: The presence of stupid people in the marketplace simply makes life harder for the rest of us. Those who will spend as much as their credit limit allows them will simply drive up prices, affecting everybody. The same stupid people then require more money to compete, and thus borrow even more, and the cycle repeats. I have little sympathy for those halfwits who drive themselves to the wall with their own reckless spending.
by Dutchy » Thu Nov 09, 2006 12:27 pm
PhilG wrote:You talk about choices, Dutchy. It has to be made clear that these choices are BAD ones. But who's standing up and saying it where it counts? No one. THAT is where the blame lies - lack of guidance and education. It's like the old saying - "There's no such thing as a free lunch". There's also no such thing as free money - contrary to what a lot of credit card belters think!
by MW » Thu Nov 09, 2006 12:50 pm
by MagicKiwi » Thu Nov 09, 2006 1:30 pm
by Wedgie » Thu Nov 09, 2006 2:24 pm
Dutchy wrote:excellent points Wedgie - Im the same as you living in Flaggy (Bought in '96 - you?)...small house but does the job, nice quiet young area and also away from the city to a degree and property value has gone up nearly 300%...finally decided to upgrade and bought a block of land (in Flaggy) and building on it but still not 100% comfortable with the decision as it mean going outside the comfort zone as far a mortages go (even though I know we will be fine)
MW wrote:You can say "go out and rent instead" but what are you going to do? Rent for the rest of your natural born life? There is more to it than that and we should not be in the situation where owning your own home is out of reach to anyone.
by JK » Thu Nov 09, 2006 3:14 pm
by Dissident » Thu Nov 09, 2006 4:17 pm
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