Give it up dude. We all know your completelly negative view. What are you investing in at the moment?
My view is a small number of folks who have over extended will suffer as rates rise. THis will not result in the mother of all housing crashes.
Do you seriously think everyone is so stupid that they only budget for loans at record low rates? I'd say only a small percentage are. Perhaps 4% maximum just guessing.
I have just got my approval for first home at 90% LVR. Will still have 20k cash to throw at improvements or onto the loan straight away to get ahead.
The rate will be around 5.9% but have budgeted to be able to afford up to at least 10%. Can't see rates hitting this level anytime soon beacause it could spark on a reasonable scale some of the drama you have been posting about.
Shares rallied hard again today perhaps everyone can put their massive profits into property.
