Forum Replies Created
- Scamp wrote:rates will rise by 0.5 percent this year, and keep going up , and up and up. There's 0% chance of them going down. Oil prices add to the pressure, as inflation is up up up, so interest must go up up up to 13% base rates minimum, which means 18% variable rates.
These are interesting times, especially when you think a lot of property investors have 20 (!!) properties or more, all NEGATIVELY geared of barely above 0 at their fixed low rates that will jump to 10% in september.
If those all come on the market, it's carnage like noone has seen before. 80% house price crashes , and houses abandoned because they are too expensive to upkeep.So far that prediction of a 0.5% rise doesn't look good, lets see how September pans out for you.
I've been trawling thru some of the blogs on this site and must confess to be a little disappointed by the lack of insight coming from most contributors. The above comments by Scamp seem to be totally incorrect. The RBA is about to bring down the money rate. Some of the majors are already cutting their fixed rates. "0% chance of a cut" ??? Hmmm….time for me to move on to the next ignorant, ego driven blogger
