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01/02/21
21:56
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Originally posted by Tony barber:
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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 Crazy world.
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the market is in a serious bubble. I don’t know how I would afford a house in the future and when interest rates are back to 5% +. It’s a crazy world and may mean have to move out to suburbs like Donnybrook or Point Cook but even then it’s starting to increase. The world is screwed for future generations. A crash will have to happen in the housing bubble.