Sorry, @Guata I did not mean to offend, with a 3% increase in Mortgage rates this year, it is hitting everyone.
Just saying that interest rates were so low, let's say @2.5% in 2020 as an example until this year which means for every 100k borrowed a cost of $2500 p/a - Really cheap rates and manageable for people on average wages, let's say to borrow 700k to buy a median house in Melbourne, that is only $17,500 k year in mortgage repayments, might not get a dream home, in a dream suburb but interest rates are way more affordable than they used to be.
And buying has been cheaper than renting, for example, the 700k borrowings to buy a house in my example =$336 per week loan repayments and that median house can be rented out for $500 a week plus some which = $26000 p/a. If an investment property owner that purchase would be positively geared from the outset Just a different perspective
