Consider this: back in December 2008, when the Sydney median house price was "only" A$540,000, the banks' benchmark interest rate for home mortgages was 9.45 per cent. That means the interest on a A$500,000 loan would come to about A$4000 a month. But with interest rates currently at about 5.2 per cent, A$4000 a month can pay the interest on a A$920,000 loan.
These numbers pretty much align with the rise in house prices over the same period.
What's really happening is this: instead of pocketing the savings to be had from low interest rates, Sydneysiders are using the money to pay more for their houses.作者: jonina 时间: 2015-7-27 14:48:58