Reference :- Why should we be pleased that house prices are increasing at a rate faster than we have seen in over thirty years?
We certainly live in exciting times . Our house out here in Kooralya may have gone up in value by almost 6 percent , which is close to ten thousand quid . Young Monte reckons we should get a home equity loan and use the money to buy a new trail bike . Ken junior reckons we should use the money to buy one of those giant television sets .
But then Gabbo asked the question " How are we going to pay the loan back ? " .
That calmed everybody down more than somewhat , but Gabbo had more to say .
" Everybody needs food , clothes and shelter to survive ." Gabbo said
" Well obviously . " I said .
" How would you feel if prices for food and clothing were escalating ? " Gabbo said .
" That would be terrible . " I said .
" So why would anybody want the cost of shelter to escalate ? " . Gabbo said .
Gabbo has an annoying habit of asking tricky questions . And when no answer is forthcoming he tends to rave .
" If everybody's home loan repayments were less , labor costs could be less . That would mean we could go back to being competitive in the manufacturing sector . High house prices stifle the economy . " Gabbo said .
But nobody was listening , we had all lost interest . Ken junior changed the subject .
" Say , let's head to the coast for a few days , we could all do with a break . " , Ken junior said .
" Not a chance in the world . " , I said .
" Why not ? " , Ken junior said .
" The mortgage payment comes out of our account tomorrow , so we are broke . " I said .
It's just as well somebody around here understands finance .
Happy Easter .
Your comrade , Ken .
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