- We dodged a bullet this week. The Reserve Bank decided to keep interest rates on hold yet again. And with good reason. Record numbers of Australians are struggling to keep up with their mortgage repayments. Home ownership has never been tougher or more thankless. A generation ago, buying a house was the done thing - the one investment that was considered as good as money in the bank. If you didn't own the roof over your head, you'd failed in some way. Not anymore. Now, renting might just put you ahead of the game.
It is a lesson that Canadians, particulary those here in the Village on the Edge of the Rainforest, have ignored. You simply cannot explain anything to anyone with a firm conviction "It's Different Here". As Mish says, "Australian homeowners are now finding out they do not own their home. Instead, their home owns them."
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