WHAT of the cost to our Society? With a whole Cohort locked out … others taking on debt of $1.4M … what then?
WHO really benefits by these huge price rises?
IT is not the VENDORS who heaven forbid are not subjected to the same jump in prices that they have gained …
WHO benefits … it’s the real estate agent … $30,000 plus COMMISSION on each house sale to be pumped up more when the sale escalates beyond the Reserve …
AND with a number of sales each week …
IT’s not just interest rates … government grants … ‘Hot Money’ … but Agents pushing up house prices …
AND the rise in interest rates locks out the aspiring First Home Buyer with minimum deposit … not the investor …
CoreLogic’s head of residential research Australia, Eliza Owen noted big bank and other analyst forecasts of national housing price declines in 2023 due to increased interest rates …
HOWEVER … we may not have to wait until 2023 … SQM’s Louis Christopher report “Housing Boom and Bust” midway through 2022!
Read more!
Australian house prices rise for 14th month in a row
READ MORE!
https://www.abc.net.au/news/2021-12-01/house-prices-corelogic-november-2021/100663944
COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 