At a 3% interest rate, that costs you $5130 a year (interest only) - or $98 per week.
Add another $150 in repayments, bringing the total to around $250 a week to own your own home.
“I am sure plenty of people get very frightened about the future of ordinary people struggling with paying bills, keeping a roof over their heads and food on the table. It should be the concern of every Aussie and Kiwi. Who is worse, those who do wrong or those who stand aside and allow it to happen? We need a political revolution that draws a line in the sand that says ‘enough to endless greed at the cost of ordinary income families, we want a better country than where we have been heading.’ Politics is under the influence of powerful, wealthy special interest groups and too many families are hurting. Fact of the matter is that if we don’t do something now it will only get worse.”
Christopher Wingate May 2015