David Hannah

Interest-ing house prices

Today my kids spent the afternoon looking at house prices, and how much interest people pay for their houses. We used the new myhouse.co.nz app brought out last week, and lots of the students could make connections to that being undervalued - lots of them had been in a house that's been renovated, or added value some other way.They then went onto Sorted.org and used heir own house to do some mortgage management. Lots of the students made serious leaps in their understanding of interest, and how much dead money goes into the loan. One of my students made a small increase to mortgage repayments, and was amazed when it knocked 8 years and a massive amount of interest!