Hello
I have recently tried getting into the housing market. After several attempts to get into the market all over nsw on a single income, it has being expressed to me by a couple of honest realestate agents that it would best me to wait until the end of the year to get into the market on a single income. I couldn’t understand why i was being told this information and was unsure what was going to happen. After some investigation, i was eluded that serval politicians have put there investment property on the market which lead me to believe that a big change may be coming in the market that the general public may not be aware of. I think it is unfair that politicians get the upper hand when it comes to important information that the public is not aware of and they can cash in off this information. Another thing that makes me believe there is about to be something major go down is how banks have reduced the amount of interest only loans.Hi Sean,
Hmm, I hadn’t heard of politicians selling off their investment homes. Do you have any kind of source (e.g. news media article?) re that? It sounded from your words that someone had alluded to it, so maybe no direct references – more of an allegation eh?Re your comment about “banks reducing the number of Interest Only Loans” the article here talks to that:-
https://www.propertyinvesting.com/apra-now-officially-restricting-interest-only-loans/In essence, it seems the “hot” housing markets of Sydney and Melbourne have brought this on. The RBA wants to be able to stimulate the economy, but it can’t do that without further adding fuel to house prices. Thus APRA has stepped in to regulate things a bit – and that will hopefully cool the housing markets a little, even while the economy picks up. Let’s see what happens….
Benny
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