I like my idea much better....a different rate for a different suburb....if you want to buy in an overpriced burb, than pay a higher IR...that should curb it.. instead of everyone being punished... you buy in a cheaper suburb...you get a lower rate... that promotes the outer burbs...where infrastructure is in place..you are rewarded for reducing the housing bubble...
it would be so easy to administer...just the suburb where you are buying indicates the rates on offer...
the rubbish that everyone has to feel the pain...and only the banks gain is wrong why should people who are not stupid, and buy within their means, are then punished with higher rates, because the stupid ones, keep pushing up the prices, in some suburbs only... if all suburbs increased at the ridiculous prices, it would be different...then the flat across the board rates as they exist would be fair... but that is not the case never has been...world of difference between inner and outer burbs
