Didn't SK say interest rates would probably be at 0 by 2010! He's closer to being right today than yesterday! 
RBA's February Rate Cut
- Thread starter Rixter
- Start date
bummer...
was hoping for 1.25 - 1.5%...
but i'll gladly take it none the less!
He He thats very kind of you! LOL
Excellent, the IP I bought in September is now cf neutral!
Unfortunately my other one is fixed, but them's the breaks!
Unfortunately my other one is fixed, but them's the breaks!
Steve Keen was pretty subdued on that grab. He was much more vocal last night on ABC radio. He certainly gets alot of airplay.
These IR drops are making investing in property too easy.
yeah personally im waiting for anz's call
stupid question, will the banks pass it on in full??
Dunno but what they were saying on the business channel was that they would pass most of it on.
I can't wait to hear comments from the Tenants Union. We should all drop our rents!
Sparky
That will never change. 90% of the population rent at some time through out their lives, whilst 33% will always rent for all their life.
Breaking news from Fox Business news
Westpac pass on 100 basis points cut
Westpac pass on 100 basis points cut
Are you kidding me!!!
Wow, that just saved me $10K a year in interest.
Happy days!!
Cheers,
Michael
Are you kidding me!!!
Wow, that just saved me $10K a year in interest.
Happy days!!
Cheers,
Michael
lol exciting isnt it
Hopefully the others now will be pressured to do the same
and nope not kidding!!
Yay! now we can afford to run the air conditioner in the sweltering Adelaide heat! ...Wait, what's that? Ohhhh, apparently we're supposed to get insulation instead!
Even with all the cuts now, you still need your property value to appreciate to just "break even" in terms of buy vs. rent.
Currently at about 4%-5% to break even, down from 5%-6% a few cuts ago. 4% is a very tough target to meet in the next 10 years in the current economic condition and affordability.
Remember, Sydney house prices only had a 5.1% annual increase from 1989 to 2008 with a super boom in the middle. 2003 to 2008, sydney house prices index actually dropped from 100 to 98.
So renting is better than buying, financially.. since early 2000. (The only winners are those who cashed out in 2003.)
Currently at about 4%-5% to break even, down from 5%-6% a few cuts ago. 4% is a very tough target to meet in the next 10 years in the current economic condition and affordability.
Remember, Sydney house prices only had a 5.1% annual increase from 1989 to 2008 with a super boom in the middle. 2003 to 2008, sydney house prices index actually dropped from 100 to 98.
So renting is better than buying, financially.. since early 2000. (The only winners are those who cashed out in 2003.)
