August 17, 2007

Rate and Rent Rise .. yet again!

Everyday it is always about the possibility of yet another rate rise. Yes another one as mentioned on SMH today!

I thought rates would drop because of the effects of the recent Wall Street slump but I am of course totally wrong. The Aussie dollar has weakened as a result of the weak share market here. Unfortunately interest rates remain strong, ridiculously strong!

On the property side, it is reported that house prices actually fell but bad news for renters, as rents will increase yet again!

So why do people still love to live in Sydney?? I dunno, for me, it's simply a matter of having built our nest and planted our roots here. It's hard to adapt to a new environment, make new friends, etc and start all over again in another state.


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