majority of investors do not buy in the most expensive suburbs anyway...they look for bargains in nearby suburbs...or they go to the outer suburbs....where the workers are....
they look for a safe harbour for their dollar
interest rates will not keep on rising..... in fact they will most probably have to cut them again.... foolish to keep raising them, just because of a few inner suburb hotspots.....
the govnuts just killed our golden goose....with resources note FMG selling out as todays news more will follow bad consumer confidence...as I expected, and it will only get worse as the months progress Myer and DJS discounting so much just to keep sales welcome to GFC mark 2, plus the European problems this time around....we are not immune from all the problems...
the only other question is....when will the Asians stop buying houses here ???? I guess when China allows them to buy at home, rather than making it harder for chinese investors... or when there is a shake up in china...and the investors flee the OZ housing market... otherwise, home owners will hang onto their homes....as they have always done in the past.... sitting back waiting, whilst the pot simmers I cannot see the inner suburbs dropping much in price... oh and that neighbours prop sold before auction....just one week on the market, at 200k's plus above the prior years prices....must be the asians again
