Certainly ppl were stupid to believe that interest rates will never go up.
This was caused by relestate agents and finance brokers squeezing people into the market using every cent of their budget to aford property without any planning for future interest rate rises.
If Howard raised interest rates 4yrs ago instead of using fear to win an election then housing would not have gone on this stupid run. A correction in the housing prices is long overdue, we should see a correction of about 40% or more over 3yrs.
Furthermore if the housing prices dont correct soon I will pull all my money out of the market.
Further insane growth in realestate will result in a very hard fall for the economy and maybe even a great depression.
sack stevens and the rba board, page-28
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Last
$65.08 |
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| Open | High | Low | Value | Volume |
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Change
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