Housing crisis set to worsen


	Housing crisis set to worsen

tabsey

10-26-2007 5:51 AM

161 views

tags:

economics

tabsey says:

Same everywhere? Just to ensure that the rate rise is guaranteed, both major parties are throwing out little gifts to as many as possible, as part of the election campaign. Many are fed up and saying so.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a3242526-a1c3-4371-a3da-f7d380dcef95/9814819E-4C57-41E0-BDAF-C89ED0BF8A7C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html" href="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html" style="font-size: 11px;">www.theage.com.au</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html"><P>Property prices have continued to soar across the nation,
putting further pressure on homeowners and renters already living
under the thumb of a housing affordability crisis.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html"><P>Australian Property Monitors (APM) says the already dire
situation is set to worsen for many low and middle-income earners
with interest rates tipped to rise again next month.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html"><P>Figures released today by APM showed house prices have continued
to surge over the past 12 months with Melbourne home to the hottest
market, recording house price growth of 19.5 per cent in the 12
months to September.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html"><P>Michael McNamara, general manager of APM, said the combination
of strong growth in housing values and rising interest rates would
deal a huge blow to would-be home owners and lower to middle-income
mortgage holders.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/business/housing-crisis-set-to-worsen/2007/10/26/1192941321711.html"><P>"The spectre of the 10th interest rate rise since 2002 will
cause further financial pressure to would-be home owners and
struggling mortgage holders," Mr McNamara said.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9814819E-4C57-41E0-BDAF-C89ED0BF8A7C/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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