frankie,if they are smart (and I think they are) the current bunch of first homebuyers will have plenty of equity to handle a rise in interest rates which ultimately is inevitable
Don't forget homeloans here are recourse,the non recourse loan, also claim your mortgage as a tax deduction (a point many forget)is the major reason the US economy is where it is today.
I also love rabbit stew,friends grandfather was a professional bunny hunter in the shaky isles when I was a kid.
I also see great value in the ASX somewhere,just haven't found it yet.
