Ression. I did the google finger dance and this is what turned up:
http://journals.aol.com/gregsblog/aimInfo/entries/2007/09/10/snag-expression/1222
http://journals.aol.com/gregsblog/aimInfo/entries/2007/09/10/snag-expression/1222
jessb....( that the Howard govt was so proud of, which led to soaring interest rates and expansion-happy, irresponsible lending.)
soaring interest rates, well I'm not so sure about that. I brought a house in 1990 and the bank home loan rate was 16.5% and on the way DOWN from around 18 or 19%.
Makes todays interest rates seem bloody cheap.
/quote]
looking at buying a house atm...
tell you what, i;ll trade you the interst rates now for the interest rates you had.
over the course of the loan you will have paid a 3rd of what i would have....
median income hasn't gone up enough to cancel that out
so seriously, bring on a recession, bring on 20% interest rates!
Myself, I wouldn't be looking to buy a house within the next 12 months, house prices still have a fair way to come DOWN and interest rates will also come off a bit more.
Well take a closer look at the Fannie Mae and Freddy Mac incident and the 1975 New York financial collapse and the similarities between the 2 . Quite simply we may be on the verge of something much worse than a recession,quite a few very odd similarities between the obama campaign,the current financial crisis and some books and papers written in the 60's and 70's have appeared.sure these things may turn out to be just some conspiracy but their certainly is a ton of evidence around and i hope its not true.:|
i recently saw a couple on tv who were sad that their investments had dropped from 120,000to 40,000 and i felt really bad for them. i'm pretty lucky cause i don't have any investments...actually i don't have that much of anything at all!
Myself, I wouldn't be looking to buy a house within the next 12 months, house prices still have a fair way to come DOWN and interest rates will also come off a bit more.
under normal circumstances, neither would i....
however, try renting in melbourne....
rent on a 3bed house is the same as 20year repayments on 400k loan at 10%
and thts if you can get it....
my household income is 12k a month, and we havent been approved for nything, and been looking since feb.
the rental situation is causing house prices to be stable in inner melb
and the worse finacial situations get, the higher (or more to the point harder) rent is...
pooling money with housemates is the only viable way to avoid ever increasing rents.
if interest rates were 5% tomorrow, any land lord in melb could evict tennants, raise rent 50% and have it relet in a week!
under normal circumstances, neither would i....
however, try renting in melbourne....
rent on a 3bed house is the same as 20year repayments on 400k loan at 10%
and thts if you can get it....
my household income is 12k a month, and we havent been approved for nything, and been looking since feb.
the rental situation is causing house prices to be stable in inner melb
and the worse finacial situations get, the higher (or more to the point harder) rent is...
pooling money with housemates is the only viable way to avoid ever increasing rents.
if interest rates were 5% tomorrow, any land lord in melb could evict tennants, raise rent 50% and have it relet in a week!
Yeah I know what you mean about rental, seems stupid that rental can be close to house repayments but you can't get approval.
I still reckon that in 12 months time both house prices and interest rates will be lower and banks will be looking to lend money to improve their profits.
so our 1.00= your 68cents?
I, personally, can't wait for Bush to get out of office. I think he's a Warlord, hell-bent on bullying his way into global domination, just like his father was. We're all pawns in his 8 year long game of Monopoly. He sits in his cabin on the lake, eating his steak dinner while the rest of us are going to food banks to feed our families...
Enter your email address to join: