On Mon, 15 Jun 2020 00:17:50 +0100, Xeno wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow! When was it that high? I thought mortgages had always been 3-6%.
Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were higher.

How on earth could that work? At under 5% people can only just afford to get one.

We still had a mortgage on the house we moved out of too, but the equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000 nine
years later. Because we did a sea/tree change, this house cost less than
we sold our previous for.

Double the price in 9 years is some profit. Mine has almost doubled in 20 years. Sid you deliberately buy something you thought would be worth more later? And I've no idea what sea/tree means.

in the old house plus the existing transferable mortgate on the new
house amounted to about $3000 less than the purchace price of the new
house - and we had $3000 cash available in cashable investments. It
took us a few years to pay off the existing mortgage, by which time
the value of the house had already climbed by over 50%. 38 years later
it is worth almost 10 times what we paid for it.

"Commander Kinsey" wrote in message
newsp.0me79xi6wdg98l@glass...
On Mon, 15 Jun 2020 00:17:50 +0100, Xeno wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow! When was it that high? I thought mortgages had always been
3-6%.
Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were higher.

How on earth could that work?

The rate hiked after they got the mortgage.

At under 5% people can only just afford to get one.

That depends on the property value, stupid.

We still had a mortgage on the house we moved out of too, but the
equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000 nine
years later. Because we did a sea/tree change, this house cost less than
we sold our previous for.

Double the price in 9 years is some profit.

Some of ours did that.

Mine has almost doubled in 20 years.

Because no one is actually stupid enough to want
a house in a council sink estate like yours.

Sid you deliberately buy something you thought would be worth more later?

Virtually always true here.

And I've no idea what sea/tree means.

Leave one of the state capitals to live by the
sea or away from the sea where the trees are.

in the old house plus the existing transferable mortgate on the new
house amounted to about $3000 less than the purchace price of the new
house - and we had $3000 cash available in cashable investments. It
took us a few years to pay off the existing mortgage, by which time
the value of the house had already climbed by over 50%. 38 years later
it is worth almost 10 times what we paid for it.

On Fri, 19 Jun 2020 06:14:26 +1000, cantankerous trolling geezer Rodent
Speed, the auto-contradicting senile sociopath, blabbered, again:

FLUSH the two subnormal sociopathic cretins' endless absolutely idiotic
blather

--
Another typical retarded "conversation" between the two resident idiots:

Birdbrain: "But imagine how cool it was to own slaves."

Senile Rodent: "Yeah, right. Feed them, clothe them, and fix them when
they're broken.
After all, you paid good money for them. Then you've got to keep an eye
on them all the time."

Birdbrain: "Better than having to give them wages on top of that."

Senile Rodent: "Specially when they make more slaves for you
and produce their own food and clothes."

MID:

On 19/6/20 4:57 am, Commander Kinsey wrote:
On Mon, 15 Jun 2020 00:17:50 +0100, Xeno wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow!* When was it that high?* I thought mortgages had always been
3-6%.
* Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were higher.

How on earth could that work?* At under 5% people can only just afford
to get one.

That may be the case in the UK. I started with a mortgage of 13%. Not
long after I took it on, the interest rate went to, in my case, 17.5%.
Heady times indeed.

We still had a mortgage on the house we moved out of too, but the
equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000 nine
years later. Because we did a sea/tree change, this house cost less than
we sold our previous for.

Double the price in 9 years is some profit.* Mine has almost doubled in
20 years.* Sid you deliberately buy something you thought would be worth
more later?* And I've no idea what sea/tree means.

Nope. I bought in order to *get into the market*. With house prices
rising that much over a relatively short period of time, people found
themselves in a position where even being able to save up the *deposit*
was difficult. Set a target and it's moved out of reach by the time you
achieve it. As an example. The house I sold 7 years ago for $600k,
located a mere 16 kilometres from the heart of Melbourne, doubled in
price over the next *5* years. That's insane price rises in anyone's book.
Around here, people have a sea change if they move/retire from the city
to a seaside town. People have a tree change if they move/retire to a
rural town. I did both in the same move. I now live in a small rural
seaside city where where we are surrounded by farms but the nearest
beach is 5 kilometres distant. In other words, it's a rural centre and a
beachside holiday resort.

in the old house plus the existing transferable mortgate on the new
house amounted to about $3000 less than the purchace price of the new
house - and we had $3000 cash available in cashable investments. It
took us a few years to pay off the existing mortgage, by which time
the value of the house had already climbed by over 50%. 38 years later
it is worth almost 10 times what we paid for it.




--

Xeno


Nothing astonishes Noddy so much as common sense and plain dealing.
(with apologies to Ralph Waldo Emerson)

On Fri, 19 Jun 2020 23:39:02 +1000, Beno, another brainless, troll-feeding,
senile Australian idiot, blathered:



That may be the case in the UK.

Are you back again, you troll-feeding senile asshole from Oz? Is the
unwashed Scottish ******'s cock THAT irresistible to you?

On Fri, 19 Jun 2020 14:39:02 +0100, Xeno wrote:

On 19/6/20 4:57 am, Commander Kinsey wrote:
On Mon, 15 Jun 2020 00:17:50 +0100, Xeno wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow! When was it that high? I thought mortgages had always been
3-6%.
Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were higher.

How on earth could that work? At under 5% people can only just afford
to get one.

That may be the case in the UK. I started with a mortgage of 13%. Not
long after I took it on, the interest rate went to, in my case, 17.5%.
Heady times indeed.

According to https://www.worldometers.info/gdp/gdp-per-capita/ Aussies aren't much richer than Poms. But then you have more land per person, so I guess houses are cheaper.

We still had a mortgage on the house we moved out of too, but the
equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000 nine
years later. Because we did a sea/tree change, this house cost less than
we sold our previous for.

Double the price in 9 years is some profit. Mine has almost doubled in
20 years. Sid you deliberately buy something you thought would be worth
more later? And I've no idea what sea/tree means.

Nope. I bought in order to *get into the market*. With house prices
rising that much over a relatively short period of time, people found
themselves in a position where even being able to save up the *deposit*
was difficult. Set a target and it's moved out of reach by the time you
achieve it. As an example. The house I sold 7 years ago for $600k,
located a mere 16 kilometres from the heart of Melbourne, doubled in
price over the next *5* years. That's insane price rises in anyone's book.
Around here, people have a sea change if they move/retire from the city
to a seaside town. People have a tree change if they move/retire to a
rural town. I did both in the same move. I now live in a small rural
seaside city where where we are surrounded by farms but the nearest
beach is 5 kilometres distant. In other words, it's a rural centre and a
beachside holiday resort.

It amazes me that the houses in nicer places cost less. I wouldn't live in a city even if I could afford it.

"Commander Kinsey" wrote in message
newsp.0mg7n0q3wdg98l@glass...
On Fri, 19 Jun 2020 14:39:02 +0100, Xeno wrote:

On 19/6/20 4:57 am, Commander Kinsey wrote:
On Mon, 15 Jun 2020 00:17:50 +0100, Xeno
wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow! When was it that high? I thought mortgages had always been
3-6%.
Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were higher.

How on earth could that work? At under 5% people can only just afford
to get one.

That may be the case in the UK. I started with a mortgage of 13%. Not
long after I took it on, the interest rate went to, in my case, 17.5%.
Heady times indeed.

According to https://www.worldometers.info/gdp/gdp-per-capita/ Aussies
aren't much richer than Poms.

That's not a measure of richer, stupid.

But then you have more land per person,

What matters is the size of the house block of land, stupid.

so I guess houses are cheaper.

Its much more complicated than that, stupid.

We still had a mortgage on the house we moved out of too, but the
equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of
paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000 nine
years later. Because we did a sea/tree change, this house cost less
than
we sold our previous for.

Double the price in 9 years is some profit. Mine has almost doubled in
20 years. Sid you deliberately buy something you thought would be worth
more later? And I've no idea what sea/tree means.

Nope. I bought in order to *get into the market*. With house prices
rising that much over a relatively short period of time, people found
themselves in a position where even being able to save up the *deposit*
was difficult. Set a target and it's moved out of reach by the time you
achieve it. As an example. The house I sold 7 years ago for $600k,
located a mere 16 kilometres from the heart of Melbourne, doubled in
price over the next *5* years. That's insane price rises in anyone's
book.
Around here, people have a sea change if they move/retire from the city
to a seaside town. People have a tree change if they move/retire to a
rural town. I did both in the same move. I now live in a small rural
seaside city where where we are surrounded by farms but the nearest
beach is 5 kilometres distant. In other words, it's a rural centre and a
beachside holiday resort.

It amazes me that the houses in nicer places cost less.

Yes, you actually are that stupid.

I wouldn't live in a city even if I could afford it.

Most do that for the jobs, stupid.

On Sat, 20 Jun 2020 07:01:54 +1000, cantankerous trolling geezer Rodent
Speed, the auto-contradicting senile sociopath, blabbered, again:

FLUSH the two subnormal sociopathic cretins' endless absolutely idiotic
blather

--
TYPICAL retarded "conversation" between sociopath Rodent and sociopath
Birdbrain from August 26th 2018:

Birdbrain: "I have one head but 5 fingers."

Senile Rodent: "Obvious lie. You hairy legged cross dressers are so inbred
that you all have two heads."

Birdbrain: "You're the one that likes hairy legs remember?"

Senile Rodent: "The problem isnt the hairy legs, it's the gross inbreeding
that
produces two headed unemployables like you."

Birdbrain: "So why did you mention hairy legs?"

Senile Rodent: "Because that's what those who arent actually stupid enough
to shave their legs have."

Birdbrain: "You only have hairy legs if both of the following are true:
1) You're quite far back on the evolutionary scale.
2) You haven't learned what a razor is for."

Senile Rodent: "Only a terminal ****wit or a woman shaves their legs."

Birdbrain: "There is literally zero point in having hair all over your
body."

Senile Rodent: "There is even less point in wasting your time changing what
you are born with."

MID:

On 20/6/20 7:01 am, Rod Speed wrote:


"Commander Kinsey" wrote in message
newsp.0mg7n0q3wdg98l@glass...
On Fri, 19 Jun 2020 14:39:02 +0100, Xeno
wrote:

On 19/6/20 4:57 am, Commander Kinsey wrote:
On Mon, 15 Jun 2020 00:17:50 +0100, Xeno
wrote:

On 15/6/20 8:52 am, Clare Snyder wrote:

snipped

It was an
advantage for the folks selling our house when we bought - it
had a
transferable mortgage at 6 1/4% when the going rate was 20-22%.

Wow!* When was it that high?* I thought mortgages had always been
3-6%.
* Early 80s they peaked at about 24%

Only about 18% here for home mortgages. Business mortgages were
higher.

How on earth could that work?* At under 5% people can only just afford
to get one.

That may be the case in the UK. I started with a mortgage of 13%. Not
long after I took it on, the interest rate went to, in my case, 17.5%.
Heady times indeed.

According to https://www.worldometers.info/gdp/gdp-per-capita/ Aussies
aren't much richer than Poms.

That's not a measure of richer, stupid.

But then you have more land per person,

What matters is the size of the house block of land, stupid.

so I guess houses are cheaper.

Its much more complicated than that, stupid.

We still had a mortgage on the house we moved out of too, but the
equity
in house#1 allowed us to pretty much pay cash to the existing
mortgage. We payed off that mortgage before buying a gallon of
paint
to do any redecorating.

So you bought a house worth less than your old one?!

No, we sold a $50,000 house to buy a $67000 house. What equity we had

We paid $67,000 for our first house with a loan of $56,000, sold it
for
$300,000 about 18 years later. Paid $365,000 for for the next and
borrowed a mere $75,000 to get into that one. Sold it for $600,000
nine
years later. Because we did a sea/tree change, this house cost less
than
we sold our previous for.

Double the price in 9 years is some profit.* Mine has almost doubled in
20 years.* Sid you deliberately buy something you thought would be
worth
more later?* And I've no idea what sea/tree means.

Nope. I bought in order to *get into the market*. With house prices
rising that much over a relatively short period of time, people found
themselves in a position where even being able to save up the *deposit*
was difficult. Set a target and it's moved out of reach by the time you
achieve it. As an example. The house I sold 7 years ago for $600k,
located a mere 16 kilometres from the heart of Melbourne, doubled in
price over the next *5* years. That's insane price rises in anyone's
book.
Around here, people have a sea change if they move/retire from the city
to a seaside town. People have a tree change if they move/retire to a
rural town. I did both in the same move. I now live in a small rural
seaside city where where we are surrounded by farms but the nearest
beach is 5 kilometres distant. In other words, it's a rural centre and a
beachside holiday resort.

It amazes me that the houses in nicer places cost less.

Yes, you actually are that stupid.

I wouldn't live in a city even if I could afford it.

Most do that for the jobs, stupid.

Indeed. That was my motivation, a career move to Melbourne in 1980.

--

Xeno


Nothing astonishes Noddy so much as common sense and plain dealing.
(with apologies to Ralph Waldo Emerson)