But having said that some people still seem to be able to borrow $550k. I am FIIK how that can pass, because when rates go back up and people are paying $1000 a week and most of that is interest, surely everything will totally crash. I know I am really hesitant to owe the bank anything more than $200k. Because i have been there and owed $350k with repayments of $620 a week. Aussies have too much debt and if the RBA raises rates to normal levels, property prices will plumit. I would be confident in saying that the only reason they are lowering the rates still is because they know 1000s of families will be fucked if they start jacking up the rate. The news tries to tell us things are looking good, but record low rates with more cuts to come, i don't think the economy is in good shape as we are told to believe. But that's just my take on it.