Gday UT, looks as though all the bears are crawling out from their caves and jumping on each others bandwagon.
The delinquent home buyers will no doubt cause some damage and carnage in the property market. The bears are waiting to pick up the pieces but the bulls may get in beforehand as most are in better positions to swoop in while the bears ponder, research articles, ponder, research a little more, wait, no should i, hang on, research more articles, ok i will buy...too late sold to another bull.
If one ticks all the boxes, banks will still lend money, if you are working earning decent coin, you can save for a deposit, if one has their screwed on and is prepared to sacrifice you can get in the market, that is if you want to.
You made a valid point that we have room to move with rates if we have to and we did.. rates fell from 9% to 5% within 9 months the global financial carnage set in. The US had no room for movement. Hence why we escaped the worst of it, BUT we now enter a time of some unknowns, PIGS, SPT, OIL SPILLS, CHINA PROPERTY BUBBLE. Atleast there isnt a serious war going on but that could be just around the corner given the trigger happy North Koreans.
If the property market does crap itself well im ready to pounce.
Im going to an auction in Mornington Peninsula for a home that has NO reserve..thats right no reserve. Now the bears waste valuable time searching the most devastating article they can find to post on this forum to get a few thumbs up while the bulls seek and destroy opportunities that are popping up quite often.
So bears please spend more time researching the garbage while the bulls speculate and accumulate.
