Thanks Nathan,
You've assuaged my doubt...(is that the right word?!?)
Nice word
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Thanks Nathan,
You've assuaged my doubt...(is that the right word?!?)
No change.
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.
I'm Stoked! Just saved me from paying an extra $166.66 per month.
Nothing will happen today! high dollar, inflation in check, spending down, house prices down....
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?
Govt Can Stomp Their Feet All They Like, They're Not In Control Of The Situation.
lol,
My tenants were just relieved of rent increases for today....
Wait till next week though. lol
lol,
My tenants were just relieved of rent increases for today....
Wait till next week though. lol
lol,
My tenants were just relieved of rent increases for today....
Wait till next week though. lol
What; an increase mid-lease?
Yeah, right.
Tenants only get 3 months lease so afer 1 month i can send a 60 day letter
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
you must be getting quality tenants with a 3 month lease
LOL
I been saying were on the brink, just go and talk with your local business owners in your neighbourhood. If interest rates go up much higher families will fall.
Look at it this way, we can all look at statistical data, however when the people on the streets are hurting, actions gets taken.
Stimulus was introduced to prevent damages before and so was rate reductions.
With high debt to income levels a 7% reserve rate is just the same impact as a 1990 20% rate.
Why because peoples debts today are for example 10 times larger then 1990 and the wages are say 5 times larger.
Its just simple numbers.
I have been saying for a while now, I cannot see rates increasing 50bp over their current rates anytime in the next 12-18 months.
Thats just my food for thought though.