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In Australia if you had purchased a decently priced property around COVID time you could now likely be considered a millionaire based on the property valuation
by NoPicklez 3mo ago
In Australia if you had purchased a decently priced property around COVID time you could now likely be considered a millionaire based on the property valuation and your income.
- dlcarrier 3mo agoSame in the US, except you would have to purchase it right before.
- NoPicklez 3mo agoThe only difference with the US is that you have interest rates for the term of your mortgage whereas in Australia we can only lock in an interest rate for up to 5 years. So not only are house prices up, but interest rates are also through the roof and those who bought pre covid at low interest rates are now having to bear todays interest rates.