Chan Loop
19.5K posts


Imagine being a first Home Buyer in Sydney you take advantage of the Home Guarantee Scheme and buy in October stretching yourself to spend $1.5 m on your home. With a 5% deposit no LMI and you expect interest rates to fall. The RBA was already beginning to think interest rates were too low (as stated today) and would have to rise. It’s now March interest rates have already risen 50 basis points and are expected to rise another 50 bp this year and potentially as much as 75 bp. You were assessed on a 3% serviceability buffer but you have a baby on the way and you are facing reduced incomes and then childcare for the next five years. The cost of everything is also going up because inflation is still too high. This is the type of situation some people that utilised the Home Guarantee Scheme may now be facing. It’s why the Scheme was so misguided and now these FHB may end up paying the price.



























For so many years people have been saying that Patrick Bateman and I look alike. Now this pic has been going all over the place. What do you think?












