I don't know if I'm bemused, amused, disappointed, worried, or staggered at what's going on.
7 months or so ago I made a comment that the people drawing super for the market will lose it all.
Now we effectively have people playing games in a market that has defied belief.
My mind is now turning to how my kids may take advantage in the future.
And what I mean by that is this. People of thier age are going to start burning cash.
And therefor they will have less competition in the real estate market.
The country has $58 billion in hex debts to claw back.
Interest rates are at crazy levels. Cars being bought that shouldn't be. Properties being overpriced.
The median in Melbourne in is $1 mil. Good luck when interest rates get back to 5%. Never mind 7%
Sure, it's going to take some time for interest rate levels to recover. But it will be a sledgehammer effect.
People use the term bubble. I think many are in dreamland.
So for now, it may be a case of waiting for the house of cards. It might take a few years.
I will probably have to buy an apartment for the kids later this year.. But I won't be throwing out $1 mil
