My kids, are saving and waiting. They are keeping records of properties listed over last 18 months. They know more than local agents about prices.
They have decided at least another 20% reduction to go. And i reckon it will go past that. This downturn in propert is worse than the early 90's.
Local prices are down 20% already. In median prices. High end are down even more.
They are behaving like Vultures. And good on them, they dont need to spend there life paying for some lazy fat boomers retirement because he could take advantage of bad govt policies.
The CBA bank lowered LVR 's for young homebuyers trying to suck them in to underwrite. CBA's loan book. The kids are smarter than the bank manager. Good to watch.
Power of the internet and new model free press educating the kids. PoS
