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this post was submitted on 28 Apr 2024
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We own two houses because we bought a house each before we were ever together to live in.
The house we have rented out doesn't even cover the mortgage costs of the house. The problem is if it were sold today it's a 100k loss.
I'm not saying we're on full on struggle street but two incomes should be heaps, instead it pays for just enough for a regular life.
We should be in a way better position.
How does that work? House prices have been going up since forever. Even if you bought at the highest peak and sold at the lowest trough of the last 5 or 6 years (if not longer) I'd be surprised if you managed to lose money on a house.
It's a myth that house prices always go up. There are plenty of apartments in Melbourne CBD around $400k, which is what they cost ten years ago.
Yes, nice big 4 bedroom two bathroom houses in nice suburbs have massively increased in value. But the bottom end hasn't moved nearly so much, because the buying power of the bottom end purchasers hasn't increased by that much.
Because one house is in the northern Territory and property prices fell out the arse after the gasplant build
I appreciate how much you both work. I've done 80-hour weeks before. I'm not confident you have a strong grasp of the poverty gap, but I'm sorry you have an immediate (albeit terminable) struggle due to prior investments that you had the agency to make.