"dreaming of a Detroit like change ? when they stopped the car industry in its tracks, and the Ninja loans resulted in turning the town into a slum.....may suit a few at the bottom of the barrel....the majority ran a mile"
Be careful not to look sideways, retail down, manufacturing closing down, investment banks going to the wall, drop off in China demand for resources. And the jobs are being lost by the day, Altona, Geelong, Braybrook, (just a part of the country.
If you follow the economics, we are going down the same path as Detroit. You can have all the people in the world but if jobs are drying up then the secondary and ancillaries there to, will be close behind.
And we will not be insulated from the Great Depression Mark 2, in fact on paper the figures suggest the oncoming crash will be the worst the world has ever seen.
If you own your own home with no debt of course it will not matter and thankfully that is the case for most people and we do produce our own food. But on the investment side not looking too bright.
The second quarter figures(ending 31/12) will on release late January make the property investment bulls jam the gate to get out to cover margins. In my humble view.
