What the Reserve will do Tuesday
- Thread starter Perth Investor
- Start date
RBA Rates Surprise
Surprise? What surprise...
I'm with Nathan on this one, it will hurt households too much if they go up a fair bit from here.
Still, I've locked for 3 years at 6.99%, that's only marginally above my current variable rate and gives me SANF to get on with my development.
Cheers,
Michael
Surprise? What surprise...
I'm with Nathan on this one, it will hurt households too much if they go up a fair bit from here.
Still, I've locked for 3 years at 6.99%, that's only marginally above my current variable rate and gives me SANF to get on with my development.
Cheers,
Michael
Govt Can Stomp Their Feet All They Like, They're Not In Control Of The Situation.
I'm Stoked! Just saved me from paying an extra $166.66 per month.
i've been relieved of $400 pcm.
Was discussing this with a friend who believes if IR hit 8%, they'll have to come back down pretty soon.
He cites the many overstretched FHO's & first time investors who bought when IR were 5%'ish & believes the govt can't let rates go too high over the next few years as this will result in many of these people having to sell.
His belief is that too many Aussies have too much vested in their homes to be able to cope if IRs rise & therefore the govt won't let this happen.
Others thoughts?
Yeah that's been my feeling for a long time also. I just can't see how they've got any choice in this country fpr years to come now other than to keep an 8 or 9 absolute max and then as your friend says even at that they really could not afford to leave them at those heights too long .
Well , looks like we have a reprieve for today anyway . Unfortunately that could also exasperate the likely hood of a pretty ugly Christmas present for a lot of people later instead though !
Cheers
Really , could you see how the average first home household or first time investors , that have also often gone out on a bit of a limb and probably also payed top dollar , could even carry another 2% if they were lucky and that would be for years to come now ?
Tell ya what , these guys , the RBA's / Gov's , are really going to have to use their noggins in their trigger happy ways over the next 5 or so yrs until some sort of perspective is reached again .
Cheers
Tell ya what , these guys , the RBA's / Gov's , are really going to have to use their noggins in their trigger happy ways over the next 5 or so yrs until some sort of perspective is reached again .
Cheers
I like that thinking. Pass the costs to the end users. Young Aussies, this is the capitalism your forefathers built and I'm all for it. Bring on more capitalism!!
Nath
Our tenants can't take any more increases.
We're now at the stage where 1/2 wage is going towards paying the rent which is high...
So unless we swap tenants for higher paid ones we can't do it....
Tenants only get 3 months lease so afer 1 month i can send a 60 day letter
Given that the average Landord is offering 6 or 12 months leases, why would anyone pony up for a 3 monther, unless it was super cheap rent?
But cheap rent for the plebs is not what we are here for; is it?
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2 of 3 of my places are on 6 month leases, 1 is on a 12 monther with a fixed rent increase @ 6 months, letter of increase was given at the start of the lease
you must be getting quality tenants with a 3 month leaseTenants only get 3 months lease so afer 1 month i can send a 60 day letter
Could just be an initial 3 month lease for any new tenants, before going to six and/or 12
CBA nearly hit your 50bp in one foul swoop !!
