rba cut - 1% , page-38

agree

why?

private development is sponsored by two groups of people

1) those swimming in cash or have loans with tier one institutions
2) those swimming in debt with loans in tier 2 institutions

The latter have just had margin calls placed on them. Bye Bye ........

We have just seen government policy undermine the development industry ..... growth/ jobs etc

If you can't make repayments on the tier 2 loans (unsecured by government) then out the door you go.

Sorry to all the self funded retirees .... at least you had decades of growth to build your wealth, all mine is evaporated and I'm left with the debt. I guess time is on my side notwithstanding the pressure that my generation will feel with an unprecidented quantum of pension retirees that need to be funded