{"id":6294,"date":"2015-11-09T01:00:17","date_gmt":"2015-11-08T14:00:17","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6294"},"modified":"2015-11-09T01:00:17","modified_gmt":"2015-11-08T14:00:17","slug":"why-all-rate-increases-are-not-bad-news","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/why-all-rate-increases-are-not-bad-news\/","title":{"rendered":"Why all rate increases are not bad news &#8211; Cate Bakos"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show <strong>Cate Bakos<\/strong>, from Cate Bakos Property, buyer\u2019s agent in Melbourne,\u00a0tells us why all rate increases are not bad news.<br \/>\n&nbsp;<\/p>\n<h4>Transcript:<\/h4>\n<p><b>Kevin<\/b>:\u00a0 Well, we\u2019re hearing all the time \u2013 aren\u2019t we? \u2013 about rate rises. If it\u2019s not the RBA, it\u2019s the banks going individually. But there is a silver lining behind every cloud. That\u2019s according to Cate Bakos from Cate Bakos Property, buyer\u2019s agent in Melbourne.<br \/>\nGood day, Cate.<br \/>\n<b>Cate<\/b>:\u00a0 Hi Kevin. How are you going?<br \/>\n<b>Kevin<\/b>:\u00a0 Wonderful. I read your blog and I think you are exactly right. Tell me the thinking behind this when you say that rate rises are not all bad news.<br \/>\n<b>Cate<\/b>:\u00a0 First and foremost, we have rate rises for a reason. A lot of people are pretty sensitive about the idea of banks having a money grab and trying to seize high profits, but we originally found that we had rates going up in response to the banks being forced to hold capital.<br \/>\nObviously, we do want our banks to remain strong, but the rational decision behind enforcing this change was because the RBA and APRA, in particular, were quite concerned about our property market heating up. We\u2019ve had a lot of investment activity, and at the time that they made the decision to make a change, we had some record numbers of investment lines out there.<br \/>\nThat was certainly having an affect in the marketplace, not just for first-home buyers but we saw some dramatically increasing values in lots of markets and some of our homebuyers who were missing out at auction were complaining that investors were driving some of the markets up, and I don\u2019t contest that.<br \/>\n<b>Kevin<\/b>:\u00a0 You make a very good point there when you talk about the health of the banking industry. The last thing we\u2019d want is to have happen in Australia what happened in America.<br \/>\n<b>Cate<\/b>:\u00a0 Absolutely. We had really strong banks right throughout the GFC, and I think we have to recognize that while we have some big lenders that are writing some enormous profits, we have a really healthy banking atmosphere out there. I think unless you\u2019ve experienced some of the hardship that those who have had banks collapse overseas have experienced, we really need to pay some respect to how the lenders in Australia have handled our tougher times.<br \/>\n<b>Kevin<\/b>:\u00a0 That\u2019s certainly a sensible look at what\u2019s going on with the banks, increasing interest rates, and so on, but now let\u2019s have a look at the opportunities that you rightly point out are there.<br \/>\n<b>Cate<\/b>:\u00a0 Yes, I think that we\u2019ve gotten a little bit carried away with being sensitive to rate increases when, in fact, the real negative effects that investors have experienced in the last few months have actually been restrictions on what they can borrow. For lots of investors, it\u2019s been restrictions on being able to borrow altogether. The opportunity for an investor who has equity or is an experienced, sophisticated investor who has lines of credit already established is that they can go out into a market where they have less investor competition now.<br \/>\nAs we know, some of the great sayings out there exist. \u201cBe greedy when others are fearful and fearful when others are greedy.\u201d It\u2019s a saying that I particularly like because if you are positioned to pounce into the market at the right time and avoid some really strong competition, you can sometimes have a fantastic buy under those conditions.<br \/>\n<b>Kevin<\/b>:\u00a0 Yes. Of course, with what is happening with the banks, there will be a number of people who are getting a little bit scared, and as you say, that creates those opportunities for savvy investors, Cate.<br \/>\n<b>Cate<\/b>:\u00a0 That\u2019s right. Absolutely true.<br \/>\n<b>Kevin<\/b>:\u00a0 Cate, thanks very much for your time. Cate Bakos, of course, is a buyer\u2019s agent from Melbourne, Cate Bakos Property.<br \/>\nCate, thanks for your time.<br \/>\n<b>Cate<\/b>:\u00a0 Thank you so much, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show Cate Bakos, from Cate Bakos Property, buyer\u2019s agent in Melbourne,\u00a0tells us why all rate increases are not bad news. &nbsp; Transcript: Kevin:\u00a0 Well, we\u2019re hearing all the time \u2013 aren\u2019t we? \u2013 about rate rises. If it\u2019s not the RBA, it\u2019s&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":6298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,13,25],"tags":[101],"class_list":["post-6294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why all rate increases are not bad news - Cate Bakos - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/why-all-rate-increases-are-not-bad-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why all rate increases are not bad news - Cate Bakos - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; In today&#8217;s show Cate Bakos, from Cate Bakos Property, buyer\u2019s agent in Melbourne,\u00a0tells us why all rate increases are not bad news. &nbsp; Transcript: Kevin:\u00a0 Well, we\u2019re hearing all the time \u2013 aren\u2019t we? \u2013 about rate rises. 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