to be honest the implications of these rate rises im not sure...confused to be honest
many reports saying that unemployment will continue to rise although many say that unemployment will not go as high as previously predicted.
many reports saying that we are officially over the recession with better then expected growth
the share market seems to have stabled out, so many say that shares are the better option so theoretially less property investors
the FHOG is being reduced gradually, but some still say its artificially holding up the market,
some say that the FHO are mostly gone and now its the investors that are in the market.
also many reports saying that today will be the 2nd of many rate rises...
also many other reports saying that all of these negative points=nothing in terms of property price rises being stopped/slowed down
also, still some saying that our prices are 20%-40% overpriced and its simply become unaffordable for the average person to buy a house and hence economical sense means that there could be a massive property crash
I know these are mostly media reports and we know how reliable media reports are ...however.... in my mind, there seems to be a far higher number of negatives outweighing the positives.
that being said the majority of my gut says property prices will just continue to rise at the average rate of doubling every 10 years whatever the rate is , so no boom, no crash either......
whether we need a crash to make property actually affordable, I dunno, has it ever happened? eg like with shares, the all ords was 6600 odd or so 2 years ago, dropped to something like 3500, now its 4500 or so, might take another 1-5 years to hit 6600 again......
I don't recall there ever being a property crash like the share market one