Lets break it down... Average AU Housing Cost by Mortgage;

Hoodwink Loan Calculator Results:

Loan Amount: $1,300,000.00

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Annual Interest Rate: 0.08

Life Loan (in years): 20

Number of Payments per Year: Weekly, 52

Total Number of Payments: 1040

Payment per Period: $2,506.72

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Sum of Payments: 🤣$2,606,989.68

Interest Cost: $1,306,989.68 🤣🤣🤣

🤣Even on this dial, it's impossible!

🤣Who has $2,506.72 p/wk for payments? 🤣Almost no young people!! 🤣

Observe SMPLTN AuHousing/BTC Chart - the trend is your friend. Recognise WTF is going on.

I'ma rent then soon enough buy outright.

🤣And the funniest thing is... [FIAT], it's made up. Out of thin Air.

Not even growing on trees 🤣

#AvoidDebt #WorkForBTC #RunTheBanks 🤣#rtb #StackSats

#NOSTRalian #AUstrich #Austriches

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Not to mention no-one would be taking that loan over just 20 years. More like 30 or 35 years

For sure - check it;

30 Year Basis

Loan Amount: $1,300,000.00

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Annual Interest Rate: 0.08

Life Loan (in years): 30

Number of Payments per Year: Weekly, 52

Total Number of Payments: 1560

Payment per Period: $2,199.94

💥💥💥💥💥💥💥💥💥💥💥

Sum of Payments: $3,431,910.62

💥💥💥💥💥💥💥💥💥💥💥

Interest Cost: $2,131,910.62

35 Year Basis

Loan Amount: $1,300,000.00

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Annual Interest Rate: 0.08

Life Loan (in years): 35

Number of Payments per Year: Weekly, 52

Total Number of Payments: 1820

Payment per Period: $2,129.79

💥💥💥💥💥💥💥💥💥💥💥

Sum of Payments $3,876,220.95

💥💥💥💥💥💥💥💥💥💥💥

Interest Cost $2,576,220.95

That is genuinely horrifying