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Property Bottoming Out
2008 has seen a recession in Australia although politicians are still talking as if it isn't here. Banks in Australia who get their funds locally have been profiteering out of the US credit crunch as our second tier lenders have had to pay additional costs for money sourced out of the the US markets by matching their interest rates charged. Additionally the street word is that some of our major banks were foolish enough to get burn 't in the credit crunch so they have been desperately propping up their bottom lines by using the justification of increased money supply costs.We have even seen the major lenders act out of synch with our Reserve bank monetary rates set. There now seems to be a general consensus that interest rates need to drop to protect us from a recession so we are likely to see some upward pressure on house prices again. In the mean time if you need some intuitive solutions to buy or sell realestate then "
we-buy-houses" maybe able to help.
