In Sydney … low interest rates have driven up House Prices …

Record-low interest rates have enabled buyers to borrow more, driving up competition and prices, and leaving them with less. Photo: Peter Rae

Are the Banks laughing?  Awash with cash …

Are the Banks happy to lend to those that overextend? 

Would they be happy to foreclose on a property?  To resell?  Cough … cough

…  The Reserve Bank will keep rates low for the next 3 years … even if house prices continue to soar (more)!

So buyers borrow more … with large crowds at open homes and auctions … as more bid the price hikes!

AND there can be but one buyer! 

What is the future for those turned away? Life-long tenancy?

The Reserve Bank focus is the economy; the Governor repeatedly has raised the issue of low wages growth with the PM …

Why not a clamp down on property investors? Or is the PM’s attention elsewhere?   Meanwhile … queues for Open Homes line the street … extending from 30 minutes to an hour.

Auctions are now between 8 to 10 bidders  …

Who else is behind this?  Scomo wrote the policy for the developer lobby, the Property Council of Australia before entering politics …  How good’s that?

READ MORE! ‘Sydney property: Low interest rates and increased borrowing power drive up prices, send buyers back to the bank’