In a last ditch effort to prevent the Reserve bank from raising Interest Rates, Treasurer Peter Costello was warned the China bubble and the US subprime mortgage crisis could cause ripple effects in Australia. Prime Minister John Howard has distanced himself from Costello’s comments and refuses to elaborate. Howard has …
First-home buyers now require a household income of more than $100,000 to qualify for a loan on the median-priced first home, a report from the Housing Industry Association and Commonwealth Bank has found. This is up steeply from $80,000 two years ago, due to rising home prices and interest rates. …
DARWIN renters are paying more than those in Sydney, with the median house rental hitting $410 a week. » Darwin rents race ahead of Sydney – Sunday Territorian (NT), 6th October 2007
A RISE in house prices in Sydney’s suburbs is needed to rescue the home building industry from the worst slump it has had nation-wide in a quarter of a century. But with rising interest rates and the tightening on easy credit, the likely hood of further rises in prices become …
“Generation Y (the name given for those in their twenties), for the most part, would rather pay exorbitant rent in inner city locations than live in what they see as the cultural wasteland of suburbia.” » Generation Y pushing up rents: report – The Age, 4th October 2007.
WE are in the midst of the worst financial crisis since 1998. The American housing market is in its direst state – sales and prices are down, foreclosures and defaults are up – since they started keeping statistical records 50 years ago. The fear of a recession is so large …
» Pending home sales down 6.5% in August: report – Market Watch, 2nd October 2007.
At least people with short memories remember the saying as this. Ladies & Gentlemen, step right up, don’t fear higher interest rates, the impending credit crunch, recession, or the fact you simply can’t afford it. Buy today, worth more tomorrow! Can we have a starting bid? Bricks & mortar, safe …
Not only are households feeling the stress of exorbitant house prices and the resulting credit crunch. Have a thought for the Sheriff Officers who have to evict defaulting home owners, and worse still many renters who have always paid their rent on time, but the only thing they have done …
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