Chapter 1: What insights does Alex Fleri share about his dual career in real estate and film?
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And welcome to another episode of the Real Estate Podcast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. It's a Thursday morning, just one more day after today and we're back into another weekend. It is the 15th day for September for 2022. Interesting, yesterday I saw a piece Paul Ryan from PropTrack had.
He was asking the question, what is mortgage stress? The commonly quoted metric is is those spending more than 30% of their income on mortgage repayments. And official data covers non-performing loans, which tracks loans that are 90 or more days behind on their repayments. And he says that there is a clear reason for the low current level of mortgage stress.
Most stress is caused by a loss of income. And of course, the current unemployment rate, the lowest in almost 50 years, means that most people can make those important mortgage repayments. On the stress side, he says this is the fastest the Reserve Bank has increased interest rates since 1994. And most borrowers are well placed to absorb these additional costs.
But interest rates will increase further, he says, as markets expect an additional 1.5 percentage points, which would push rates beyond the level recent borrowers have been assessed against and, more importantly, stress tested against. And at the moment, almost everyone has the option to sell their home to repay their mortgage. less than 0.25% of loans are in negative equity.
That's according to RBA data. And Paul Ryan said that while we are unlikely to see a lot of stress, many households may have a tough financial period ahead. And let's hope that that is not you.
It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast.
And coming up, we are back in the Gold Coast again, gee, twice in one week. And we're going to be talking about a unique home that sold there recently. And we'll be talking with Alex, our man on the ground there who has an interesting double career going on.
Now, if you're celebrating your birthday for September the 15th on this Thursday morning, you are sharing your birthday with Oliver Stone, turning 76, the film director. Prince Harry. Yes, I guess it's the worst time to be celebrating his birthday.
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Chapter 2: How did Alex Fleri choose the filming location for his latest movie?
He is turning 37 years old. And from the history books, an interesting date on this day back in 2008, the Lehman Brothers filed for Chapter 11 bankruptcy protection. You might remember this. It was the largest bankruptcy in US history.
It's your real estate podcast for breakfast. It's the Maine Centre Forecast with PRD, selling smarter every day.
Okay, let's have a look at some of the rain that is hanging around for our Thursday morning. Firstly, we go to Sydney. Good morning to you. Expecting the rain, so grab the raincoat and the brolly, a high of 19 degrees. Some of the rain in Melbourne, although it is going to ease, and your high today of 18 degrees. In Brisbane, expecting a possible late shower, your high of 23.
And in Perth today, expecting one or two pieces of rain, and your high today of 19 degrees.
We talk with leading property commentators with analysis, predictions, forecasts, and what's trending every morning from 6.30.
Well, right now it's time to talk properties and movies, my two favorite things in the world. And we can do that with our next guest, who is both a real estate agent on the Gold Coast and also an actor. He's a producer. I think he's a builder as well. And the last time we spoke to Alex Fleury from Amir Prestige, he was looking for a mansion location for a film that he was shooting in Burley.
A very good morning to you, Alex. Welcome to The Real Estate Breakfast. Thank you, Craig.
Thank you for having me back.
Hope you're well. I'm pretty well. You ended up shooting that film. What happened with that film?
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