Homeowners should be ‘very worried’

Mr Bouris says despite conflicting forecasts he expects a further decline of

house prices once the “lag effect of these interest rates starts to bite in”.

Why should I be 'worried '?

Home owners should be 'very worried' about having a mortgage with a business owned by Bouris. He sold Wizard and a lot of people's interest rates went up 4% overnight without any warning. It's not just business when people lose their homes at no fault of their own.

Bulldust, I am a home owner, why should I be worried, I own my home 🏡 and it's not for Sale !.

Home owners don't care about price fluctuations. Investors do. A lot of people buy a home to raise a family and for security.

why? perhaps those who have a couple of rental properties won't be able to sell for an overinflated price

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Melbourne’s plunging property market has sellers spookedHomeowners are not even being tempted by the prospect of getting more attention from buyers looking for a bargain, so how will price falls unfold from here? The correction is painful and will take time to get used to, but it's high time we stopped viewing property as a wealth generation tool and instead viewed it for what it really is: a necessity.
Source: theage - 🏆 8. / 77 Read more »