The Australian
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Over the life of your mortgage, the average Australian, on current interest rates over 30 years may pay more interest back to the bank compared to their actual mortgage itself. To me this is crazy For example if your mortgage is $600,000 and you pay back $650,000 worth of interest to the bank, that house in reality cost you $1,250,000 dollars?! And not to mention that is paid with AFTER tax dollars, which means if you are on the highest marginal tax rate, you need to earn over $2,000,000 just to
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