Hi All
Whats wrong with these people in the RBA – raising rates for a 3rd month in a row. First time in history!!!
How is an honest property investor like me supposed to get filthy rich in this environment and having to contend with these people at the RBA?
Just when the Sydney property market starts to get wind build up – not enough to create a fart mind you, the RBA goes and spoils the party.
Can somebody give me some calming words please?? I need counselling!!
Thanks
TheBish
TheBish,
Get used to it… lots more to come….goodie.Ummmm… I am now watching Ubank to lift % on investment accounts
Bring it on BABY!TheBish wrote:……………………..Can somebody give me some calming words please?? I need counselling!!Thanks
TheBishWestpac has raised 0.45 %………………..expect the other big three players in the cartel to follow suit and add premium to their bottom line also.
Thanks guys but these aren't exactly the calming words I asked for – leave the facts out of this blog please….
What I think will happen with all this is that rentals are going to rise significantly.
I've never seen a more perfect storm on this front:
1. Construction of new housing/units down – this has started already
2. Job prospects look better – tenants more comfortable paying more and less likely to take drastic action – moving back home.
3. Increase in immigration – coming in by the boatload
4. Capital growth number will level out – less investors buying.Its the classic Demand up / supply down scenario.
Over
TheBish
Well how inconsiderate of you TheBish! How are THE BANKS supposed to get filthy rich? Have you considered their needs at all? They had some sort of financial crisis y'know (of their own causing)! How are they supposed to post billions of dollars in profit if we don't support them? Well I plan to do my part and fork over as much as I can in hidden fees, interest and one off account fees. That yearly fee I'll gladly pay because it keeps those Aussie battlers going!
Gee it is such a shame I cant add sarcasm into this! Hopefully you get the drift! The banks could get blood out of a stone and that is exactly what they are doing money out of mortgage interest. But I know I haven't got a spare billion laying to use to buy houses so I need to borrow some cash from them. Good thing interest is tax deductible (hey just silver lining ok).
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeThanks Wolfman – I feel better now – I own Westpac shares.
Oh MY GOD! So do I and aren't they totally a piece of B*&^%H&T! Used to have a mortgage with them, almost partied when we went through ST George then they bought ST George ARRGGHH! Ahh banks they just do suck!
DDWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeWolf!! Thanks for your humour in a time like this! Your words of wisdom has consoled me, I feel a whole weight lifted from my shoulders! Wait a second, no…when then .45% increase hits again, the weight will be reinforced!!
Some breathing space would be nice, damn RBA and damn the big 4!
Is it really the first time in history the RBA has gone rogue and had 3 rate rises in a row?
Bring on the rate rises!!!
The reason this Boom has made property so expensive is because of 1. Rudd the Dudd and his cash handouts, 2. low interests rates.
Take these out of the equation and your also taking ALOT of FHB and others out too.
Sure prices may not go down but i would happily pay a few extra dollars a month on a property that will be leased out anyway than an extra 10,000 -30,000K cause all the FHB are buying on emotion rather than common sense.Lets hope for another one in JAN and Feb and even March.
I love the words "mortgage stress"
Westpac increased their deposit rates by 0.45% also, so they aren’t just taking, but giving as well.
It reflects a preference for local funding where possible.
I put the blame on Rudd’s stimulus which encouraged everyone to borrow lots of money, and at the peak of the rush to buy homes at inflated prices, the RBA increased rates. It was all just a trap to get us into greater debt.
Yeah I think the problem is there is no problem. The economy really is fine so there is no reason to keep rates low. This was the economic slowdown that only happened because the government wanted it to, and the banks caused it. So thanks banks and thanks K-RUDD for fixing something that wasn't really broken. (just my 2 cents oh wait 1.55 cents)
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
D
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