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Kris.When interest rates rise I to will be as happy as Larry.Up will go my rents!Demand for my rentals will sky rocket.My passive income will dramatically increase.If they dont rise for a while I will continue to use the low rates to my advantage.Smurf.The "Speculator" you insist is in a majority is in fact pretty well a minority.To have 4 properties 100% geared by speculators with no or little servicing ability is nigh on impossible.They just wouldnt get the necessary $$s.Insto's use a 2% filter on affordability and if that cant be serviced then no loan.Those that are over stretched or at their max have had to take out mortgage insurance so that if and when they get hit the insurance company pays the difference between sell and bank commitment.This doom and gloom scenerio with all due respect is perpetrated by those who are not involved in it!Sure housing will stabalise and sure prices will pullback to satisfy demand and sure there will be some carnage---but it wont be anything like wholesale bankruptcy for those "Stupid,greedy,dumb,speculators"Armchair critics who love to commentate and critisise those who have a go and lement missed opportunity---should really get inside the glass house before throwing stones.Seriously comments thrown around on this topic can clearly be seen as from people who deal in theory not from practice.Id rather hear from Jack Nicholas on how to play golf than someone who has watched tournaments on T.V.
Kris.
When interest rates rise I to will be as happy as Larry.Up will go my rents!
Demand for my rentals will sky rocket.My passive income will dramatically increase.If they dont rise for a while I will continue to use the low rates to my advantage.
Smurf.
The "Speculator" you insist is in a majority is in fact pretty well a minority.
To have 4 properties 100% geared by speculators with no or little servicing ability is nigh on impossible.They just wouldnt get the necessary $$s.
Insto's use a 2% filter on affordability and if that cant be serviced then no loan.Those that are over stretched or at their max have had to take out mortgage insurance so that if and when they get hit the insurance company pays the difference between sell and bank commitment.
This doom and gloom scenerio with all due respect is perpetrated by those who are not involved in it!
Sure housing will stabalise and sure prices will pullback to satisfy demand and sure there will be some carnage---but it wont be anything like wholesale bankruptcy for those "Stupid,greedy,dumb,speculators"
Armchair critics who love to commentate and critisise those who have a go and lement missed opportunity---should really get inside the glass house before throwing stones.
Seriously comments thrown around on this topic can clearly be seen as from people who deal in theory not from practice.
Id rather hear from Jack Nicholas on how to play golf than someone who has watched tournaments on T.V.
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