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Each rate rise locks tens of thousands out of home ownership, research finds (www.abc.net.au)
submitted 1 month ago by to c/ausfinance@aussie.zone
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In short:

A rate rise is estimated to cause an immediate 5 per cent reduction in home purchases.

Economic modelling suggests the home ownership rate would fall by 0.3 of a percentage point and take more than a decade to recover.

What's next?

Markets and economists are almost certain the RBA will announce a rate rise on Tuesday.

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[–] 5 points 1 month ago (2 children)

There are probably enough homes for everyone who wants to buy a home. The problem is that too many people own more than one home. My own landlord owns at least four investment properties - I don't know how many.

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  • [–] 3 points 1 month ago

    Its quite a weird mindset there. Pretty much the only area of reddit I visit are the economy ones. I recently saw a article and thread clearly aimed at investors on where else (other countries) they could invest and the yields etc as a result of dropping yield on Aus property. The amount of people that contributed and seemed to think that property investment is some kind of right was astounding.Even the fact that they are looking to monoplise from other countries. It is a disease.

    They need to be taxed and social housing boosted.

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