GOLD 0.51% $1,391.7 gold futures

Jack73 Yes and its not just the first home buyers who will be...

  1. 17,482 Posts.
    lightbulb Created with Sketch. 1
    Jack73

    Yes and its not just the first home buyers who will be hit. All those people listening to the property sprukers about borrowing money on the equity in their own home to buy and negative gear investment property. All those that don't own a property but fall for the sprukers and go into huge debt and shuffle the rent from these investment properties to pay the interest only mortgages. There are plenty of people that got hit owning investment properties in Gladstone and surrounding areas, all mortgaged to the hilt. A couple of coal mines closed and investment has been curtailed in that area in contrast to what you see in the media.

    China housing market is collapsing right now.
    EU is down in a serious recession
    EU is China's biggest importer or close to I think.
    China going down and Australian Coal and IO going down.
    Australian Coal and IO going down means Australian miners and allied industries will be hit.
    These two industries employ a lot of people.
    Australian Government revenue will take a hit if the miners go down.
    So on and so forth you can imagine the rest of the story.
 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.