I can not think of anyone whose advise I blindly follow
But I would certainly take more notice of some one like Dr Oliver, Mark Bouris or Jonathan Pain
Than some one like Alan Kohler or some one who posts on an internet chat site who has clearly fallen in love with a particular class of asset and that love is blinding them to the reality of the problems with that particular class
If you took the time to accually properly listen or read what Mark Bouris has said and Andrew Symonds has been saying for some time, it actually is good advise they are giving.
900,000 households are currently in mortgage stress, the economy is slowing, interest rates may go higher or at the very least stay where they are for some time, inflation is out of control and showing no signs of easing and the property market is slowing.
ALL REALITIES THAT WOULD BE FOOLISH TO DENY
What Bouris has said is of the probably small but unkown percentage of the 900,000 house holds that are in mortgage stress, that are really struggling now, they should consider selling out as a serious option.
If they sell out now, they will be doing so in a real estate market that has slowed, but not as slow as it is likely to be in 6-12 months, those that have or are close to falling behing in payments will not fall further behind and the price they are likely to get now is likely to be more than the will get in the future, especially if they have to get a quicker sale in the future or the property is sold as a mortgagee sale.
He is also calling banks and lenders to provide tools to for lenders to use that they can use to give them an earlier warning that they are headed for trouble. This will allow people to sell out, if that is the action they need to take, in an orderly fashion rather than getting killed in a fire sale.
All this sounds by far like better advise than some of the reality denying rubbish posted by some perma property bulls here.
