Letter: Owning a home is not always quality living

It’s called living beyond your means.

A pure gamble.

“Interest only” home loans are a potential recipe for disaster – impoverishment.

They are only sustainable if interest rates remain (historically) low and the value of property continues to increase.

I wouldn’t hold my breath for such a happy conjunction.

Taking out interest only home loans or investment loans is like playing Russian Roulette with your life and your finances.

Michael Gamble, 

Belmont

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