Ahhh... Yes, we know you've been waiting....
Another power cut, another South African soccer team loss, another rain storm, another traffic jam, what NEXT?????
Another South African home loan rate increase? Can South Africa afford to pay 15% on a home loan account???? The answer is NO!
I do believe that the government in S.A(that's you Mr Mbeki in case you've forgotten or too scared to admit it with the current rising popularity in South Africa's government. For those of you who are international readers take a look at these two BLOGS for some light on topics in S.A. - http://southafrica.amagama.com & <>http://dearmrpresidentofsa.blogspot.com/)
can help South Africans and the South African home loans and property market as a whole, if Mr Mbeki takes a good bold stance and decides to drop the interest rates by 0.5% or even 0.75%. Something like this may not be great for inflation and current economic stability for the country, but I think what should be more of a worry for him is the morale in South Africa. By dropping our interest rates, I believe we can build the morale up again and in doing so, once again help the housing market which has taken such a beating over the last 4 months.
What do you think?