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Strategies & Market Trends : Dividend investing for retirement

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Thehammer

To: Larry E who wrote (33695)	7/8/2021 7:00:25 AM
From: Cogito Ergo Sum	1 Recommendation of 34328

I am 65.. my first mortgage was at 10.5 ... bumped to 12.5 after year one term.. standard 25 year Canucky amortisation... (Canada).. It was STILL cheaper to buy than rent.. (Toronto) .. My first home was 97K in 1989 or 1990.. cannot recall exactly :) I agree with you..... but the sad fact I figure is folks today are so overextended in our consumption society.. spurred on by government... so if you are paying 40% of gross income to your mortgage.. yeah a rise from 2 to 4 points is killer... I was told by RE agent.. oh sure 40% of gross.. I said no.. I will not go more than 25% of gross and buy accordingly :) I also took advantage of the pay weekly deal that means you are making effectively an extra month payment on principle each year by default.. so effective amort reduced to about 18 years just by that... There were other tricks :)

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