Anthony

And it's not as unusual as maybe she thinks around some of the planning people doing now with intergenerational homes, getting family members in with all the affordability challenges.

In fact, some of the banks are even adjusting some of their policies around granny flats, tiny homes in properties like Eileen.

So great to have you with us, Eileen.

Keep listening.

Yeah, exactly right.

Yeah, it's a really interesting one and there's been a lot of discussion around this.

And as you say, two to three months ago, banks, economists were forecasting three or even four rate decreases this calendar year.

First RBA meeting of the year, we've had the first rate rise since November 2023.

Look, I think if we look back, the problem stems from maybe the RBA actually didn't increase our rates high enough back then.

when we were on a rate increase cycle.

We went up to 4.35% cash rate.

A lot of other comparable economies, Canada, the UK, the US, even New Zealand, their cash rate was above 5% to 5.5%.

If you look at their inflationary data, it's back under control.

Canada's under 3%.

The US is under 3%.

UK's around about 3.2%.

There's a very, very strong argument that rates were never high enough.

Back in August, when we made our first rate cut, growth was projected at 1.8%, inflation at 2.6%.

Since then, growth's been around about 3% and inflation's 3.4%.

So the RBA has really been struggling to get a handle on the economy.