It's massive, in Oz banks were throwing money at people and interest rates were the lowest in history. When rates go back to something resembling normal defaults will make the recession of 08 look pleasant
It's massive, in Oz banks were throwing money at people and interest rates were the lowest in history.
When rates go back to something resembling normal defaults will make the recession of 08 look pleasant
08 wasn't a big enough correction if you ask me. And in any case in a lot of places, house prices went right back up to where they were in a few years. The government has been running a housing inflation scam since at least the 70s. You're absolutely right that when there's any sort of sustainable interest rate, there's no way most people are affording a million dollar house.
08 wasn't a big enough correction if you ask me. And in any case in a lot of places, house prices went right back up to where they were in a few years. The government has been running a housing inflation scam since at least the 70s. You're absolutely right that when there's any sort of sustainable interest rate, there's no way most people are affording a million dollar house.
(post is archived)