passive, t he kids dont get it....they appear so obsessed with house prices, and then how rates affect same... they cannot see the woods for the trees....
the home loan rates are fine now...as per my previous recent posts
the bigger picture is...business confidence....and how rates affect their ability to employ....
unless a business owner has a residential property, to borrow against, with the lower rates....as in home loan rates, then he is rat shit....
he will have to pay between 10-14% for a business loan.... if they will give it to him....doubtful in this climate
or as the majority of businesses, that do not have the backing of residential property...then they are forced to pay credit card rates...of between 21-25%
so gloating over the lack of a drop in rates, will probably cost many their jobs..... unless of course, their employer, is also a home owner, who may have some leeway, to negotiate an extension of their home loan, as security for a business loan...
can I assume most of the bears are also labor supporters, or supporters of the idea of a nanny state...where they are promised everything for free....
or the Robin Hood approach, to take from the rich to give to the poor ? The other underlying sentiment, in confidence in the housing market, stems from the belief, that the current incompetent labor govnut, will be gone within a year.
Confidence in a future sane conservative govnut, is what is driving the property market. The jobs market, is big the loser in the current climate. Be careful of what you wish for!
