I guess this question is mostly for home owners (investment/ppor/both)
I assume a lot of folks here own at least one home I’m hoping this resonates with some of you. We recently purchased our first home in the peak of high housing prices (not sure if that’s what it had been called from a long time now) but the raise in interest rates are really making me think of out decision to buy was wrong or should we have postponed it a little longer. We have been planning to buy a family home from quite sometime and it isn’t easy with the current craziness in the market. We purchased a $1.4 mil house with 88% lvr 4 months ago. Bank approved the loan and now we are feeling the heat. Monthly payments have gone up by $1500. It’s taking a toll on our mental health. Is anyone else in a similar boat? How are you handling yourself? Any suggestions how to cope considering more rate hikes?