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How many investment properties is too many?
#69
Ruth Richarson sold the Goose that Laid the Golden Eggs - Housing Corp motgages. The banks (and Fay) bought them up because, um, you make shit loads of money from mortgages. We built our first house with a Housing Corp mortgage, same as our parents did. You didn't have to earn above a certain amount to be able to pay back the mortage - there was a minimum amount. We had to falsify my pay slips to show I was earning less than I really was...made sure we didn't own an expensive car, etc. It was tough to comply with the restrictions....and then we had up to 19% interest anyway at some stage.

So yeah, we had an easy step onto the ladder, and Solo Mums (Paula) were almost guaranteed a Housing Corp mortgage, a lot of Solo Mums from the '70's and '80's had their own home. Blame it on Ruth.
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RE: How many investment properties is too many? - by Zurdo - 11-12-2021, 06:08 PM

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