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Yes 15 years ago is relevant Bunn-Wackett when you and others...

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barry2007

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19/01/24

19:44

Post #: 71971196
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Originally posted by Bunn-Wackett: ↑

Talking about 15 years ago was what 2008, how is that relevant or even the basis of an argument?

We haven't been in so much debt as we are today, households, councils, state and federal government worldwide and when loans become ready to be re-negotiated then there's going to be less available and on a higher rate and that's just one example, one small example of the headwinds facing all of us. Councils, state and the feds will pass on all extra costs.

Affordability will be the buzzword for the year and into the next one probably. I strongly believe all we've got wrong is the timing.

At the risk of getting political look at Victoria's debt and the ballooning interest bill which will be passed on to its residents and estimated at 8-$10k pa per household. Add in federal debt, increasing insurances, groceries and many items that will have inflation embedded regardless of the rate dropping. Wages need to catch up but they can't because that'll add to inflation... Yup, lack of AFFORDABILITY to maintain out of reach lifestyles already committed to will force people to scale down and that will bring property prices down.

The piper will need be paid at some stage.

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Yes 15 years ago is relevant Bunn-Wackett when you and others (your username years ago was just Wackett).

If any mug was looking for advice here from 2006 until now they would have kicked themselves listening to any of those posters including yourself.
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