ERROL PARKER | Editor-at-large | Contact
The nation’s aspirational class have been four years in the financial doldrums as interest rates shot up and cut off the supply of cheap and readily available money. Today, that’s set to change.
Property investors around the country are preparing their snouts this morning so they can go absolutely hog wild at auctions this weekend, armed with bags and bags of someone else’s cash.
In response, property prices in both shitholes and nice areas are set to climb.
“This is great news,” said one local investor.
“I’ve been itching to buy another property but the rates have kept me out of the market, somewhat. Now that I’ve got negative gearing and my deadshit 18-year-old son to co-sign the mortgage with so we can get the First Home buyers, I can blow any First Home Buyer out of the water,”
“And that’s what I’m going to do. I’m going to let them think they have it, then boot the bidding another $50k down the road to really rub it in. I like to see how upset they get. Sorry, but that’s how it works. Maybe you’ll get your own place when someone dies and frees a bit of capital up in the family, until then, that’s my shoebox, bitch!”
With the economy spluttering and on the brink of stalling, normal people who just own the one house that they live in are welcoming the cuts. The Reserve Bank expects most people to almost immediately spend that in the economy.
More to come.
