That's Labor for you, who voted for them , pushing Housing and inflation higher and higher on mass Immigration, page-8

First 8 Last

Share
Profile

Follow
sharebroker1

13,731 Posts.

778

15/11/23

15:32

Post #: 70918610
Share

Originally posted by copperroad: ↑

Labor will break the property market for many people. New buyers can’t get in, and people in mortgage prisons are doomed for years. Renters are going to end up hours away from work, living in tents or living in cars. This is happening globally since the FED and RBA lowered rates to super dumb levels and left them there. These rate rises are a consequence of inexperienced people in high places. It will get worse and the cost of living will keep rising with labor’s other nonsense policy of net zero. Australia will experience peak poverty under Labor greens. You look for the employment level to start going bad next. Labor will drive the country into the haves and the have nots. This is yet another reason why I think leftie Labor is a one hit blunder. Voters won’t come back for many years. The fact that labor continue to push this dysfunctional bad immigration policy proves they are incompetent people. People who own their homes may feel good, but get used to the fact that this is not a free ride. The inequity is going to cause major political problems. They should pull back immigration by 50% imo. The govt wants to build 1m homes. They won’t build 20% of that. It’s simply unable to fulfil this lie. It’s a fraction of what is needed. If anyone thinks this isn’t inflationary, think again. It means more rate rises. That’s when it will break for many mortgagees. 2.5% of some suburbs are already one month in arrears on their mortgages. Watch this blow out for more suburbs.

Expand

"This is happening globally since the FED and RBA lowered rates to super dumb levels and left them there "

Spot on, lowering rates to those crazy low levels was only going to push houses sky high as gullible people thought here is free/cheap money (loans), and instead of buying a cheap first home they bought a 4 or 5 bedder with spa pool and "possibly" that horrid sunken lounge hahah.

That stinkin "sunken lounge" is now really sinking !

So all jokes aside, the interest rates today are really still "HISTORICALLY VERY LOW " so they could go up much higher given the crappy labor policies high immigration etc.
7 Upvote

Reply

Top Stories

LU7

Lithium Universe targets silver boom with breakthrough solar recycling tech

LDX

Lumos Diagnostics surges 140% on major US contract deal

LIS

Li-S Energy the latest microcap to pivot to US defence market

ASX Market Close: Why are we red today? Because US CPI's at 3%

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist