In this episode, Russell Peter is joined by Tim from Nexus Money to discuss the current financial market. Tim explains that interest rates have been on the rise, causing some people’s rates to increase from 2% to 4.5-6%. This is having an impact on borrowing capacity, as stress testing is now being done on higher rates. As a result, buyers are having to reduce their purchasing power and vendors are having to adjust their expectations. Tim gives an example of a first-time homebuyer who was able to borrow more money 12 months ago than they would be able to today. He suggests that the solution is for people to try to increase their income in order to be able to afford to borrow more money. 

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