July 2026

Yeah, 12 months ago, of course, most economists were thinking the interest rates had peaked.

What's your take on that? Well, we've had

three rises.

I'm not certain they have peaked.

But I think we're reaching a stage where they're not going to change much in the future.

I think we've got back to what they're supposed to be.

It's interesting.

I'm doing research for an article on why house prices have risen so fast.

In Sydney 2007, the mortgage rate was 9.5%.

People forget that.

Is it the old thing of you buy and sell in the same market sort of deal?

Always, always.

And of course, this change in the housing market, I don't think that was expected.

So that certainly meant that this budget has taken away any incentive to be an investor.

Domestically, the biggest story has been the Fed budget.

And as you say, whatever your political views, it's one of the biggest changes to Australia's taxation system in decades.

Yes, but what gets me, it's been rushed through.

And every day they find something else.

I've got something on my desk now about massive tax changes in the international system, which I'm researching,

but they're just so complicated.

What was the point of rushing it through so fast and then finding, oh, hang on, the foundations aren't quite right and the roof is leaking and

the other? I honestly don't think they know what they're doing.

Well, they're saying it's supposed to make it easier for first home buyers, but that's rubbish.

There are three ways to improve housing affordability.

You reduce interest rates, or you cut personal income tax so people have more in their pocket, or you let house prices fall.