Chris Bates

speaker

1,659 appearances 5 recordings 1 series first heard Jun 2021 last heard Dec 2022

Chris Bates’s voice in public audio — every appearance, attributed to the second.

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And everyone thought they were going to go up in 2024, if you believe what the RBA was saying, right?

So,

That is just like, I guess, a freak out event, really.

Basically, everyone's going, oh, wow, rates are going to go up.

How high are they going to go?

How does that affect my borrowing capacity?

Can I still buy that?

Should I buy it, et cetera?

And that's what happened, you know, June, July, August, September.

What we saw from October, November time is most of the capacity, borrowing capacity falls have happened.

Rates aren't going to go from 3% to 6% at the RBA.

And people have already adjusted their budgets.

So they still have a lifestyle need.

They still want to own a place.

They still want to have a family or have got a family.

They need security and stability long term.

But they've gone through a readjustment of their budget because they have to because of the banks.

But also they want to because they're going, well, I don't really want to go in all this amount of debt if rates are going to be 5% or 6%.

I was more happy to do that when rates were 2% or 3%, right?

and their appetite for debts change.

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