housing prices head down, page-78

"when rates start rising we'll soon sort the men from the girls"

for rates to rise, the economy will need to be on such a favourable trajectory that it will ratchet up national income growth up with it, rendering affordability a non-issue (like it is now).

And every month and every quarter and every year between now and then gives mortgage holders the chance to hit their mortgages on the head... which, happily, is what the banks report is happening.

For the "opportunity costers", it's not a convenient message, I know.