Heise Says
#homeloan #mortgages #heisesays
Time for the old $580k average mortgage to bite the dust.
Twitch
https://www.twitch.tv/heisesays
Check out HeiseSays International
https://www.youtube.com/channel/UCojfY2lvCR0AQBsCkl4QURg
📝 Become a HeiseSays Member
https://www.youtube.com/channel/UCe9Q_WLN-Z9tLVLoDIY24pg/join
🎙My Kit
Rodes Podcaster – https://amzn.to/2IfOEVV
Logitech C920 HD Webcam – https://amzn.to/2Kh6UR5
Rode PSA1 Swivel Mount – https://amzn.to/2WI2DNl
Rode WS2 Microphone Windshield – https://amzn.to/2K9edI1
Stream Deck – https://amzn.to/364HDjO
Drawing Screen XP-PEN https://amzn.to/3wuuO05
Alternative Media Channels
Lbry – https://lbry.tv/@HeiseSays
Goldpass Email: (Donate Gold)
florian.heise@heise.com.au
Buy HeiseSays Merch
https://says.heise.com.au/shop/
🟠 Referral Links 🟠
Amazon Australia Link – https://amzn.to/2KHmtiv
AussieBroadband Referral Code – 1826841
Independent Reserve Referral Link
https://www.independentreserve.com/invite/SSEFMM
eBay Affiliate Link
https://rover.ebay.com/rover/1/705-53470-19255-0/1?mpre=https%3A%2F%2Fwww.ebay.com.au%2F&campid=5338609762&toolid=20008
📬 Postage
PO Box 3404 Sunnybank South QLD 4109
Read More:
Why Buildings Stand Up
https://amzn.to/2stNb5O
Why Buildings Fall Down Why Structures Fail
https://amzn.to/2RqpREZ
Great Streets
https://amzn.to/2YsORy0
A Pattern Language
https://amzn.to/2K7qA7B
Donate and support my content
Patreon – https://www.patreon.com/HeiseSays
PayPal – https://www.paypal.me/fheise
Social Media
Discord – https://discord.gg/uj9Y4sy
Facebook – https://fb.me/Heisesays
Twitter – https://twitter.com/FlorianHeiseAus
Heise Architecture
Our Architectural Practice.
http://www.heise.com.au/
Point Clouds Australia
Our Point Cloud Scanning and Equipment Hire business.
http://pca.heise.com.au/
Are fixed rate loans locked in?. I have to believe that there is fine print somewhere.
my mortgage is $230 000. We borrowed $400 000 5 years ago for a property worth $450 000. Now its worth $600 000. (of course that will drop soon). My wife and I had average incomes for most of those years however our income is now 30% more, so we will smash it off quicker. Goes to show what good savings can do for you.
Our culture of victimhood has encompassed even our homes. Its someone else's fault that I took out this huge mortgage to pay for my tacky McMansion that I now can't afford.🙄
Which firm in launceston did you work for?
Love the spreadsheets Heise, it helps me when I am trying to give people with huge leverage some idea what will happen, they still argue with me like a addict protecting their addiction though. "She will be right mate, the RBA wont let it get like that" is the common response. I'm Irish living in Oz and watched what happened there in 2008, my retired Father still trying to pay off two investment properties in Spain at 67!
Don't forget about inflation, not just about cutting down on the mortgage. Also, you have to consider the increasing costs of essential goods, the cost of housing maintenance, and hope for no emergency events. All the concessional money can run out very quickly.
Brace yourself, some negative equity stories are coming!
Martin "Got to go granular" North. The word sheeple extends to the housing market. The smartest dumbest people we have in Oz and its the wise people who pay for this…
Be interesting to know the percentage of people who are home owners, give us a better overview. And the percentage of people using credit cards. Back in the 90’s the interest rate was 17.5% and I remember people were desperately trying to buy a house….in case they missed out. I was weird.
SHOCCCCCCCCCCCCCCCCCCCCKING
DELETE COMMENT NOW before the you tube Police see it …………………
I'm above average but we new to Australia…..but the home is worth much more than the average home in Brisbane
It’s one thing that rates go up and think fine I’ll scrape up a few hundred more each month but with inflation causing everything else like food and fuel to go up it all of sudden isn’t so easy to scrape up that few hundred or even thousand. Expect suicides and homelessness and bankruptcy to go up. Australia is fast becoming a 3rd world country.
If the government keep stepping in to protect people they will only inflate the market further.
Both my houses are well below average. Actually, the cost of both is below the average $580K that you first listed.
1st house I purchased on over 4% interest.
$180k left to go… dropping another $20-25k into the mortgage in a month or two's time…. on track to be mortgage-free around Christmas 2023.
This will teach a lot of people, there is no need to "Keep up with the Jones".
Financial bomb is going off. Most people are on fixed incomes and I suspect many on smaller mortgages might also find it hard to service any increases.
Obviously, mortgage increase is not just drinking few cups of coffee any more, 85% of mortgage holder was on variable rate, wonder how many still in variable now.
Have already basically paid off my mortgage via offset, but to upgrade I calculated I need to get a $1 mill loan which seems crazy..
Major folks impacted who bought the house in 2 ~ 3 years in Sydney ,most likely more than $1m borrowers
They will find life time hardship or get back to market again.