The latest articles say that the most recent rises are due to upgraders. Thats great, now we have another tier of home owners that are up to their eyeballs in debt rather than staying in the home that they had a large stake in.
Bring on the interest rate rises!
So when these upgraders are finished upgrading (which most would have done by now), what will drive the market then?
Credit card debts also bringing out the debt collectors at record levels. People expect to be paying house bills on the credit card....at 25% interest. I guess when you are paying 50%+ on your mortgage repayments, what else is there to pay for all the christmas shopping.
Just got my power bill for the quarter....$300 for less power than we have ever used. Set to go much higher.
The latest articles say that the most recent rises are due to...
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