Inveigh Slang
Club Legend
- Dec 14, 2015
- 1,068
- 1,204
- AFL Club
- Fremantle
- Banned
- #26
Many reasons, not least of which is his company is about to get smashed because people will no longer be able to afford to build a house. When unemployment settles at about 15% (as has been predicted), no business is safe. We are headed for one hell of an economic hit.
I'm nowhere near old enough to remember the great depression but I clearly remember paying 21% interest on my housing loan when Keating was Treasurer.
You're much older than me. I was maybe 8 when that happened.
The difference is interest rates are at an all time low. It's relatively cheap to build a house these days. When we get through this then people will be able to move to build again.