I purchased my first home when interest rates were 18.5%, I bought clothes food and everything else it’s called budgeting. You may say houses were cheaper then. Wages were so so much less then especially for women. The worlds not flat we aren’t going to fall off. Yes some people who have over extended will feel this. However if you have any idea regarding banking regulations and ASIC regarding HEM you will find people will still spend and have surplus income. Most smart people have already fixed their loans. I advise you to do your homework and look up HEM regarding banking regulations.
I purchased my first home when interest rates were 18.5%, I...
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