As usual, media is trying to make people panicking over the rate increase and also the petrol price increase (headline today: “Property Investors Hit Hard”). do people with homeloans really affected?
From memory, the begi
ing of an increase in something always create this kind of frustated atmosphere, but people will forget all about it and they will get on with life. I doubt that people will be starting selling their houses, their cars or making any substantial lifestyle change.
Having said this, house is becoming less and less attractive form of investment. But if I’m a contrarian, I would buy house now when people are staying away from em.. Oh well, not that I have the money to buy one anyway.