Potential Big GFC Discussion Thread - Australian Ford Forums

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Potential Big GFC Discussion Thread

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07-08-2011, 11:30 AM

#10

FTe342

FF.Com.Au Hardcore

Join Date: Dec 2004

Location: Newcastle NSW

Posts: 7,890

Tech Writer: Recognition for the technical writers of AFF - Issue reason: Writing tech articles

Re: 2nd Great Depression is coming

Quote:

Originally Posted by GhiaEB

As someone who is looking at getting my first house, I am very worried about it. I've factored in a 2% rate rise into my affordability but if it goes higher I could be in a spot of bother.

Add to it a loss in value (if the housing market drops) and I'll be in real trouble. I might just wait another 6months. I'll have a bigger deposit as a bonus.

Cheers

Good strategy. But you won't have to worry about rates going up. They are about to head south. When banks calculate your borrowing capacity they have a margin of about 1.5% factored in but you should work out whats comfortable for you.

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