Sophia wrote on Dec 31
st, 2022 at 6:59am:
Grappler Truth Teller Feller wrote on Dec 9
th, 2022 at 6:44pm:
This'll be good in a time of rising interest rates on mortgages - the investors might take a hit for a change instead of the cream.
Long overdue!!
Sophia - might be some good buys coming on the market soon...
I just saw this topic… maybe you’re right… there’s more interest rate rises on the way for 2023.
Would be nice to get our downsizer in the peninsula area… but alas the prices are still hefty and selling like hotcakes.
As for rent freezing… that’s all well and good… but how about interest rates/council rates/insurance/repairs freeze also?
It goes hand in hand.
Otherwise what’s happening I hear…. Renters are in bidding wars for the very few available rents around.
Investors are getting cold feet and either not buying or selling what they have at the current high prices.
This is what causes rent shortage.
I've long advocated a freeze on costs of living - that includes not only rental but mortgage rates and all the other things that go into the pot... road tolls, rail fares, utility bills under the failed 'privatisation system (just got the latest $28.04 with my 7.7 Kw system - miss nothing - read the bill wholus and it says "this is an estimated bill" - say what? You put in one of those new-fangled meters which transmits direct to you and you say you estimate a bill? Keeping eyes open for rats in the next bill) - the false trick of the global economy which benefits a few mightily while essentially robbing all others while the robbers hide in tax havens (maybe all cash etc transfers out of tax havens should cop a tax before being allowed entry to Oz), the utter failures of de-industrialisation to give the benefits, the absolute lie that technology was going to free us all from toil (yeah - we can all live in a car down by the beach and surf all day or become modern day swaggies - no other choices - freed a lot of people to have nothing) - anyway - I do go on......
The madness persists in the demand for buying a home, much of which is driven by the desperation of seeing prices rising and rising regardless of all real factors, so people are rushing to get what they can before their dream $1m house becomes a nightmare $2m house - thus pushing the demand for higher incomes perpetually.
If it were not for governments raising their arses to keep the banks happy by forever maintaining the mortgage madness, this whole thing would collapse and the poor bank shareholders would take a bath... long overdue. Never forget that your politician breed will 'suffer' due to their shares in banks and their list of investment properties.... insider trading and self interest are the prime drivers of their decision making... not YOU!
And it's your money they use to build their empires..... same as Yong Brittany - girl 'outside' the 'bubble' gets the same treatment - cops $50k - inside the 'bubble' is worth $3m .... plenty of lovely just lying around in Cambra for their use as they see fit in their ivory towers.