this is so much like the doom and gloom of the days like the early to mid 1990's ...interest rates had shot up to 18% and unemployment was rising, businesses shutting down etc.....only had the one property then, and no shares....
I opted out of the doom and gloom and moved to Melbourne for a job change...rented the property out..... then partied for the next 5 years....
when I got tired of partying I stopped and looked around, the interest rates had come down and the regional property had increased by 30% so I sold it off....about 1989 just before the property crash of 1990..with the intention of buying back later....more luck than anything...but had a terrific lifestyle I was enjoying so much
I got sick of working for others and started my own business in 1995.....I had cash in the bank, but the wrong time to go looking for finance for properties (lesson learnt should have got the home loan whilst employed and then made the change to self employment)...properties were sooo cheap then... I played the stockmarket for the next 5 years and made some good money .....until the tech crash took out some of the profits...by june 2000 it was basically all over....
I then started eyeing off the property market again.... the housing market had not started the recovery ,and with plenty of cash from the business and profits from shares I bought 4 properties all at bargain basement prices......starting from aug 2000.... after 15 years of ups and downs in all markets I believed the prop market was about to go ballistic...now we had low interest rates and easy credit.........oh and howard was in government its been a very profitable past 20 years of profits from housing and investments, that is until the interest rates started climbing in 2007 month after month with no reprieve............
and finally after the rba and govts worldwide have screwed the economy with the inflation boogy of mid 2007 to 2008.....we are back to 'the honeymoon period'......
this honeymoon looks the best of all the periods...with interest rates the lowest on record.... anyone with a mortgage now has savings of hundreds of dollars a month....cash in hand.... lets see where it all goes this time.....
just reminiscing on how I fared past 20 years or more....so when the doomsdayers look forward for guidance ....I look backwards on experience...no wonder people like me get a little bit excited at what lays in store cheers
