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When you sell things on GumTree they normally report if it's...

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alonso

17,106 Posts.

143

12/05/19

12:15

Post #: 38524384
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Originally posted by daicosisgod: ↑

G’day Flight,

There have been a couple of independent reports that confirm the speculative buying and subsequent abandonment of settlements.

About three months ago I spent an afternoon trawling through Gum Tree advert’s for land contracts due for settlement. I must say I was shocked at how many there were. I am not talking of a few. There were dozens and dozens with most sellers just hoping to roll over the contract to a new buyer and to just get their deposit back. With so many on Gum Tree I presume that there are a lot more other contracts at risk they just have not advertised yet.

As we all know with so many distressed sellers the price of blocks of land will be pushed down and this slump likely exacerbated by very slow finance approvals.

So that is my evidence and reasoning.

Cheers.......Daicosisgod

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When you sell things on GumTree they normally report if it's sold. Did you notice at all if many of these contract were reported sold?

VLW Price at posting: $2.28 Sentiment: Hold Disclosure: Held
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