Realistbear Posted May 5, 2006 Share Posted May 5, 2006 (edited) http://www.smh.com.au/news/national/a-toug...6335930439.html A tough city offers a ray of hope for first home buyers Higher interest rates may not be all bad for those trying to get a foot in the market, writes Matt Wade. AdvertisementAdvertisement SYDNEY'S debt-laden home borrowers might be hurting after this week's interest rate rise but it could be good news for those locked out of one of the most expensive property markets in the world. Higher interest rates may be the only hope many young people have of owning a home in Sydney, said Macquarie Bank economist Rory Robertson. "You could almost hear wannabe homebuyers in their 20s and 30s cheering in the streets when the Reserve Bank lifted rates on Wednesday," he said. "The thing that can give young people greater access to one day being a homeowner is if house prices fall back, and the most obvious thing that could make home prices fall back is a series of interest rate rises." Let's all hjear it for the IR! Long may they surge and fly up up and awaaaaaaaaaaaaaaaaaaaaaaaaay! Edited May 5, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.