on Tuesday that “business liaison and various business surveys has indicated that there is now stronger upward pressure on labour costs”. Although he also noted that while “some firms are paying higher wages to attract and retain staff … there is still considerable inertia in the wages system”.
We know house prices are absurd – in New South Wales, the average home loan is more than seven times that of average male full-time earnings:But interest rates since November 2010 provided something of a buffer to falling affordability from rising house prices. Yes, saving for a deposit became a massive hurdle, but the mortgage repayments, at least, were not as bad as they might have been because rates kept being cut.
Because here’s the thing: if you had taken a loan out in January 1990 you did not pay 52% of your average weekly earnings on repayments for long – because interest rates fell. By contrast someone born in 1980 who took out a loan in 2010 was looking at spending 43% of male average full-time earnings repaying their $400,000 loan.
Interest rates in the U.S just went up by 0.5%, next scheduled rise in Australia should be interesting.
We need to start talking about the sustainability of renting in this country. Atm its - all own your own house or you're screwed. It needn't be that way. We are obsessed with property and could learn a lot from other countries
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CBA and ANZ match RBA’s hike in interest ratesThe Commonwealth Bank has passed on the full value of the Reserve Bank’s increase in interest rates to mortgage customers as the era of ultra-cheap home loans comes to an end | clancyyeates clancyyeates Sickening lol clancyyeates Australians will be forced out of their homes due to high interest rates and insurance due to Scotts policies. Scotts, LNPs 20yrs of stymying/blocking renewable energy thats going down, Scotts fossil fuels which go higher every day contributing to high interest rates & insurance clancyyeates Surprise surprise. Couldn't cut the full amount, but they sure can pass on the full amount when the rate goes up.
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Major banks announce interest rate increase after RBA decision | 7NEWSThree of the four big banks have announced they will pass on interest rate hikes after the Reserve Bank of Australia’s decision to increase the cash rate. TheLatest 7NEWS Look my naked photo ❤️😘
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If the RBA isn't careful, more interest rate hikes might bring on a recessionOur latest burst of inflation is weird, and resistant to rate hikes. But if the Reserve Bank isn't careful, too many more rate hikes like this might help bring on a recession, writes Peter Martin. Morrison lies. The Reserve Bank does what the Government wants. The government is in control. Additionally, the Government sets fiscal policy, and it controls wage levels.🙄💩🇺🇦🇦🇫 HomeToBilo doubly so because the inflation is NOT due to overspending but due to a war and covid and other issues .... so increasing interest rates will NOT FIX inflation this time ... Raising interest rates is a sign the economy is good.
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