dogma79I think you have completely missed my point.judging by...

dogma79

I think you have completely missed my point.

judging by your recent post I assume you are a first home buyer waiting for the property market to crash.

when the supply of money diminishes and cost of borrowing increases it is not uncommon that any type of transactions which has anything to do with borrowing money will also be adversely affected.

the slowdown in some segments of our real estate sector was quite foreseeable when the interest rates started to hike. this was not surprising.

however what you fail to understand is higher interest rate affect the first home owners a lot more than others no matter by how much the real estate market decline.

in other words even if the median prices go down by another 50%, at higher interest rates it would be more affordable for those who have already number of properties than an average Joe who wants to compete with the rest; both in terms of buying opportunity to purchase a property or servicing the debt for existing mortgage/s.

my advice to you is this; if you can't get into property market now when the interest rates are relatively higher than seven years ago you will probably not going to get into the market anytime soon and when you do you will probably face a stiff competition because the cost of housing would probably be significantly higher than what you pay now.

you either bite the bullet now and deal with high interest rates

or pay more for the house when the rates start to go down

it's your choice.