I got a place in melbourne near the cbd as well. The interest
rate might go up depending on the market, depending on the reserve
bank. Now Australia is in an election period , I don't think the
interest rate can go up any further until after the elections. The
apartment prices are not going up as fast as the interest , so go
figure.
The news is that because of the inflation and interest rates, no
one really wants to buy and most cannot afford to buy. People are
waiting for property prices to slum and developers who cannot
afford to wait for the right prices will sell at firesales rate.
Vultures are already circling and ready to swoop - if you get what
I mean. ***NEWS : Markets already crashing from the Dow Jones Dip-
those who bought property on 75% of the value mortgage - are going
to be in trouble if they dabbled in stocks - aka firesales***
If US goes into recession and Australian economy gets affected ,
first to go are not the Australians but the foreign
workers. And consider this - if you work under an AWA (
Australian Workplace agreement) - you are screwed both ways - more
screwed than the Australians.
If I were you, just do nursing - it is the only profession unlikely
to be affected in recession.