At this rate.

The article in this week's "The Saturday Paper" by Emily Barrett with the above title, is of course interesting and informative. However, while the new rate is a move in the right direction, we should be grateful that when the then RBA governor reduced the rate to 2.0 % in May 2015 and then progressively down to 0.25% in Oct.2020, he created a false sense of security, followed by the ridiculous 0.10% from Nov. 2020 through to April 2022.

By this stage, the property market went viral, with the Real estate industry believing all their Xmas's had come at once. Property investors then jumped on the bandwagon causing property values to rocket, and of course, the gullible younger lookers, losing sight of reality and paying ridiculous prices and taking mortgages they should never have been allowed.

What I am trying to say is, we (the nation) are now experiencing a rate below or, close to the rates that prevailed over the last 20-30 years. The constant harping by economists, that we are all suffering under such high hurtful rates, is false. One can only come to the conclusion that those ( harping economists) are friends of the opposition and have no interest in factual reporting. Those investors who may be complaining about the need for rate reductions,- are almost all those gullible people who thought they could cash in during the period of artificially low cash rates and contributed, to what became a grossly inflated property market. The damage they have caused to our national economy should not be rewarded by all this nonsense. Just more rubbish that is expelled by the current opposition. All political parties are a blight, but the opposition is reaching a new low in their false campaigning for the coming election. Give us a break?

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