Quote Originally Posted by dingoNZ View Post
try scraping at 20% deposit together when you're young. Back when rates were that high banks were handing out money left, right and centre to anyone willing to take it. It takes a hell of a long time to get 20%, say lets call of $50k when you're fresh out of uni and working for $25 per hour. Not all the young have parents in a position to offer equity either
Banks weren't that generous in my days either. Thus most of use had 2 or 3 mortgages.

We scrapped the bottom of the barrel to get a deposit as well and sacrificed a lot for a few years, like no car.

Anyway most of us have bad times eh.

The moan comment was about those who complain that a 5% rate is outrageous. Just putting things in (historical) context.

Best of luck with your putting together a deposit.