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’

https://www.domain.com.au/news/sydney-property-low-interest-rates-and-increased-borrowing-power-drive-up-prices-send-buyers-back-to-the-bank-1034206/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1