Blaming our national treasurer for low interest rates is a choice you may be happy with but I suspect there are millions out there who are finding low interest rates more of a blessing than a curse.
Really?
Roughly, one third of Australians own their own home OUTRIGHT. One third rent. One third pay mortgages. Of the third that pays a mortgage I'd guess that half of them have been in their Casa for over ten years so a percentage point on their mortgage is something/nothing.
What does that leave? 16% with mortgages large enough to appreciate a rate reduction and that might be millions.
But that 33% who own outright [a bigger number] get less return from their savings. You think it a good thing that savers subsidise young aspiring homeowners and young/middle-age property investors? I don't.
Everyone, including the mortgagees also pays higher insurance because the ins companies get a pittance on the highly rated investments they are forced to make.
- Forums
- Science & Medicine
- 'i got it wrong on climate change - its worse'
'i got it wrong on climate change - its worse', page-32
-
- There are more pages in this discussion • 78 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)