I guess it’s the financial gift that keeps giving from Scotty from marketing that we’ll all end up paying for.
Tough times are afoot. How much do you think interest rates will go up today?
How High Will Interest Rates Go up Today?
Vote for Pedro on 07/06/2022 - 09:58
Last edited 07/06/2022 - 11:44
Last edited 07/06/2022 - 11:44
Poll Options
- 180.1-0.25%
- 310.26-0.4%
- 750.4-0.5%
- 860.5%+
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Isn't that just an average home in Sydney?
Not for much longer
Not if they bought it with cash.
It's like Charles Dickens:
'Please, sir,' replied homeowner, 'I want some more.' to the Reserve Bank of Australia.
Sadists and Masochists.
I like to be wined and dined before I get f#%ked.
Time for scotty to up the deals
So have they bumped the term deposit rates yet?
greens fault
Would not like to have a Sydney or Melbourne mortgage right now.
And no, investors don't get the right to complain, they knew that propping up the market was bound to fail sometime.
Man, all those first home buyers who fomo'd in to an overpriced market are doomed. Meanwhile investors just wait to pick at the bones.
The transfer of wealth continuesi bought my first home early last year and some of the fomo people i was up against, just wow
regular single story house going for $200k above a very reasonable reserve, even the real estate agent was like wow, was not expecting that.
i stuck to my guns and staid within my budget, but the people who didnt, their the ones youll see crying on news.com in the coming weeks
Yep I'm on 230k per year just bought a "median house" which is 1.2m here at the end of last year. It took me years to save for that deposit. I think I'm screwed.
As someone on much less, who might make that sort of money if I worked myself half to death, I don't see it as worth it despite how I would like to own my own home.
I kinda envy you (and your work ethic) and I kinda don't but regardless I hope you're not screwed.
Yeh I've kind of screwed myself now because I have to work "more", but with tax it's diminishing returns, which makes it that much harder.
0.5% :) looks like rates are up.. i have two loans so i got hit twice.. ouch
Hodl.
i hope it keeps rising for first home buyers sake. the prices are retarded
If they keep going up, they won't have the borrowing power to buy anyway?
nope, we will just see people loose homes who cant afford them (most likely second home buyers) and this will collectively drive down the price from the scare across the market, for me personally an extra 500 a month wont hurt me the same way as paying 300k extra for a house
Can someone ELI5? Lowe's own words talked about COVID disruption, global prices influenced by the war and how petrol impacts everything since transport is a big part of it.
… So how does the idea of giving people less spending power to lower demand work for these external factors? I doubt the servo is going to be dropping their price or staples at ColesWorth get cheaper because people have less money to spend.I mean I kinda wish it did address inflation as I'm not over leveraged or any of that stuff, but I'm not holding my breath.
ScoMo has a lot to answer for. It'll take a miracle for the ALP to turn this dumpster fire around that the LNP created.
Bah they'll just blame alp for it. It's happening on their watch and that's all most people who don't follow politics will see.
yes im loving it, the prices need to drop its ridiculous, all the second home investors who thought they could afford it and bought and are struggling will end up selling at a loss
I think it will go up .5
When? In July?
Raising it 0.5% now has a better chance of getting inflation under control sooner.
We are all screwed if it gets out of control e.g Turkey, Argentina.
If that happens then maybe we can all sign up for local Netflix subscriptions. 😂
This! Signs of stagflation are there. NZ is already saying screw the housing market, and are already up to an OCR of 2.0%. They had two rate rises at the end of 2021. We are way behind.
I suspect the next rise will be 0.4% to get things on a quarter-point granularity. Another 0.5% hike will spook people, while 0.25% may be too low. Honestly, I was spooked that it was 0.5% yesterday. I was fully expecting 0.4%. Clearly, something is scary for them to have to tack on the extra 0.1%.
Shoulda voted uap,
nar jokes
Another 0.5% on the way soon, but I’m hoping Labor will be friendlier to the little battler and stop this madness.
Albo needs to do what Scotmore can’t, otherwise democracy is broken
An economy is like a container ship. Changing course is slow. You turn the controls and a few kilometres later you’re changing course. We are probably now feeling the impacts of decisions made 12 to 18 months ago with some chickens coming home to roost because of the tripling of the national debt without any structural or nation building reforms to show for it.
trippling of national debt.
It was called job keeper. Not possible for building works with covid.
Can’t blame Covid alone. In FY 2010/11 it was under $90billion. In FY 18/19 it was just under $390 billion.
Tell me more about Job Keeper?
@ihbh: That was sarcasm - that you obviously don’t get.
I notice you made no comment on the pre covid debt levels.
Rona air drops were only needed because of incompetent govs shut down the country.
hopefully fingers crossed
bit rich by the RBA dude, he misled us all !!!
Tough times are afoot
Only for approx. half the people (borrowers).
Good times afoot for the other half (savers).
Not really, when the cash rate is 3% banks may only offer savers 1.5% and pocket the rest.
That's amid a backdrop of high inflation, so savers are also going backwards compared to inflation.
Banks will be one group of winners.
Nice, OZB did better than the most economists
Hardly tough.. so many years of low rates.. They could only go up..
July will be another 0.4-0.5% IMO
Paid 50c extra for my banh mi today, that's like 6.25% inflation * ouch *
@netjock: A 10x from 2012 till now is nothing. Of course a gain is a gain, but some gains are bigger than others.
I can give you any trade confirmation from 2013 for Bitcoin and it would be more than 10x today (despite a "catastrophic crash" recently). My first ever Bitcoin buy was around $800. You know how much Bitcoin is today, right? :D
Point is Bitcoin and other major cryptocurrencies has been indisputably one of the best assets to hold over the last 5+ years (2+ years even). The numbers don't lie, there's no subjective element to it, its just facts. Its returns far far outstrips those of property. That's a fact.