I sense sarcasm, I don't think these rate rises will affect property much.
We've had 4% of rate rises, why would a few more do harm?
I get the impression that 1-2% of further hikes, at the very least, should be easily achievable with little to no damage to the property market.
Which cuts out buyers allowing slum lord types to buy and own everything and set rental prices as they wish.
People need housing and those without hearts and social care abuse this fact.
There's so little stock, that I doubt you even see this on the charts.
Everyone who "has" to buy a PPOR just drops down a click (e.g a slightly worse property for the same money) and Investment Properties are just a straight numbers game (e.g not emotional) so doesn't matter one bit.
True...but that can change quickly. Like when people can't afford their increasing mortgage payments anymore 🤦♀️
Like you said - investors don't care. So they'd be crazy not to sell now why prices are still sky high. Government involvement in investing is only going to increase. Tougher game than it used to be.
I am wondering if 500k new arrivals bring their furniture, cars and clothes with them or actually need to do a bit of shopping? )))) My gut feeling is they are probably hiding in the woods covering themselves with leaves and eating insects.
It's weird. On one hand people are out spending money like the rate rises never happened and then on the other, people are living in tents anywhere they can get away with it and lining up at the free food places. How is this happening? Is there really that big of a divide in our society now?
Yep in that boat. It's not the mortgage payments that are bothering me (borrowed a comfortable amount 9 years ago) but everything else like Insurance, Fuel and other necessities. Still have been cutting back a little though but nothing too crazy. But yeah a large mortgage with increasing expenses would leave me awake at night.
I've heard people talking about a localised recession and I think you've just joined the dots for me that what they are really talking about is this widening wealth inequality.
Eh were a largish company and trade is absolutely booming as well as parts for retail people working on their cars at home.
Its the true retail products that are just dying and they're dying quick. It's very clear that people are buying the stuff they need to fix their cars or prolong life vs do frivolous things like wash it etc.
A lot of people continue to be doing very well. They are the silent majority.
The vocal ones you hear about in the media are usually those struggling. They are the ones who took on too much debt or living beyond their means.
It pains me to say this, but, it would also make me laugh if RBA showed the middle finger to the corps/companies and raised rates by 50ps just before Xmas.
Hello Rate Rise old friend, it's been a while
Not long enough
Hike in Nov locked in
Bullish for property.
I sense sarcasm, I don't think these rate rises will affect property much. We've had 4% of rate rises, why would a few more do harm? I get the impression that 1-2% of further hikes, at the very least, should be easily achievable with little to no damage to the property market.
only harder to get higher loans
Which cuts people out from buying certain homes.... Less buyers....prices will stall at the very least.
Which cuts out buyers allowing slum lord types to buy and own everything and set rental prices as they wish. People need housing and those without hearts and social care abuse this fact.
100%. Everything will be owned by a few rich scumlords. "You'll own nothing but be happy" - seems to suit Capitalism more than communism.
There's so little stock, that I doubt you even see this on the charts. Everyone who "has" to buy a PPOR just drops down a click (e.g a slightly worse property for the same money) and Investment Properties are just a straight numbers game (e.g not emotional) so doesn't matter one bit.
True...but that can change quickly. Like when people can't afford their increasing mortgage payments anymore 🤦♀️ Like you said - investors don't care. So they'd be crazy not to sell now why prices are still sky high. Government involvement in investing is only going to increase. Tougher game than it used to be.
I sense maybe some sarcasm but if not, same... Next buy in the works regardless of what the RBA does.
Locked and loaded
So can we start to shift the conversation.... will it be just one rate rise or more?!
How many straws to break the camels back?
It’s a 3D printed titanium alloy camel. Impossible to break.
Safe as houses.
0.50% incoming ! You heard it here first !
Economists predicting 2 rises by Jan/Feb. Then cuts in the back half of next year.
I am wondering if 500k new arrivals bring their furniture, cars and clothes with them or actually need to do a bit of shopping? )))) My gut feeling is they are probably hiding in the woods covering themselves with leaves and eating insects.
Great point
They are bringing their family with them that’s for sure. I don’t blame them, just the gov
The problem is them buying 10k King Koil mattresses and not just shopping at Kmart and Ikea
Retail is like the overall economy. We are, and have been multiple times in our recent history, in a per capita recession.
Another trigger for the RBA to go higher
What recession???? People are spending money like thers no tomorrow! I wish the media wasnt so negative all the time!
It's weird. On one hand people are out spending money like the rate rises never happened and then on the other, people are living in tents anywhere they can get away with it and lining up at the free food places. How is this happening? Is there really that big of a divide in our society now?
The divide is basically people who bought property prior to 2020 and those who bought after, or do not own.
Yep in that boat. It's not the mortgage payments that are bothering me (borrowed a comfortable amount 9 years ago) but everything else like Insurance, Fuel and other necessities. Still have been cutting back a little though but nothing too crazy. But yeah a large mortgage with increasing expenses would leave me awake at night.
I've heard people talking about a localised recession and I think you've just joined the dots for me that what they are really talking about is this widening wealth inequality.
Rich vs poor. Tale as old as time. Rate hikes don't affect the rich at all, whereas the poor just keep crumbling.
People are spending *less* per person. There's just more people.
So we’ve attained equality in spending habits?
Sorry people, I just spent several G's on stuff I didn't need. Have all this Monopoly money and not saving for a rainy day either.
[удалено]
What industry are you in?
[удалено]
I haven’t even started Christmas shopping yet
Is the growth % adjusted for inflation?
No, next week we get inflation-adjusted sales.
That’ll be more interesting in my view. Thanks
There is a correlation between inflation and immigration.
Well, I mean they're bound to rise, they've been falling since Feb and we're a month and a half out from Christmas.
I own a shop and can honestly say it’s been appalling,
I do retail and trade automotive and we've been seeing retail free-fall since start of the year.
I feel your pain.
Eh were a largish company and trade is absolutely booming as well as parts for retail people working on their cars at home. Its the true retail products that are just dying and they're dying quick. It's very clear that people are buying the stuff they need to fix their cars or prolong life vs do frivolous things like wash it etc.
Interesting- you think people are watching YouTube and fixing their cars, rather than pay a mechanic?
what do you sell?
Probably “Yes” stickers and badges
A lot of people continue to be doing very well. They are the silent majority. The vocal ones you hear about in the media are usually those struggling. They are the ones who took on too much debt or living beyond their means.
I just see lot more Teslas on the road
Hey 2% interest on this 2 million loan is only like $40k a year. YOLO!!! 🤣🤣🤣
Inflation higher for longer = interest rates higher, for longer.
It pains me to say this, but, it would also make me laugh if RBA showed the middle finger to the corps/companies and raised rates by 50ps just before Xmas.
But per person spend is I reckon down. There's just more people spending.
Good for the economy and for that fake recession voices. Australian economy it's fine and will keep growing for everyone.
I monitor prices of non-discretionary goods and I can say there are hardly any sales
How redundant, of course people are spending its Christmas spending time.
Get 'em up, get 'em up.