Interest Rates

[j.sabourn]

Here in Australia all one hears about is the poor struggling mortgage payer and how it affects them. To my mind 1. They should borrow money that they should be able to pay back and should have borrowed less. 2. Whatever the government suggests goes down like a load of bricks. Why doesn’t the government in such a case looking for ways to ease the burden do what the uk did years ago and probably still do and that is all interest on money borrowed is tax free. Here They already do it on your second or third house or a fleet of them if you have as an investment , what’s wrong with their intelligence. People make a living here on buying houses tax free. I am speaking about 20+ years ago and things might be different now , don’t know. I had two rental properties when working as an investment , unfortuanetley the home owner living in the residence did not get any tax concessions. Let me also say I bought houses in the uk when the interest rate was at least 8% . JS
In the meantime those who have frugally saved over the years have been getting less than 1% on their savings with the banks , you could say there is something wrong in the State of Israel JS

[happy daze john in oz]

Mate, if you get the right bank you can get as much as 0.75% interest on your savings.

As to those who invest and own a number of houses which they rent out.
That contributes as a small business and as such all losses can be off set against tax.

But if you want a caviar style living you need a champagne type income, you will not do it on a beer salary.