Reposessions fall to two year low, mortgage arrears also decreasing

RenovationMan

Thrugelmir wrote: »

That wasn't the question you asked.

Though you seem convinced that your strategy is the right one. So I wish you well, and hope that it pays off handsomely. As its contarian views that make markets what they are and investing interesting.

lol, I don't remember even asking a question!

Thanks for your good wishes. I think that any financial strategy that involves saving money instead of p**sing it up the wall, is a good strategy. Whether it's the best strategy as far as returns are concerned is a whole other argument. I do feel though that psychology enters into all this, especially over such a long timeframe. For me, living in a lovely house and blitzing a large mortgage is more motivating and enjoyable than living in a modest house and salting cash away into unit trusts, funds, bonds, shares and the like. I know, because I have done both. Other people have different motivations, and should go with what works for them.

Good luck to you sir on reaching your goals! Nice chatting with you.

p.s. I have a blog on the MFW where I will be recording the progress on paying down my mortgage and renovating my home, please feel free to read/post. Only time will tell whether my strategy proves to be a good one, but I will be documenting all of the ups and downs, so it should be a good reference for anyone thinking of following a similar approach.