Peter Schiff on what happens when RE sentiment changes (about 7 mins into the podcast). Check out what the RE agent caller has to say too Assuming 'sentiment' is a univeral phenomenon, it's prob not so different here in OZ ;> ______________________________________________________
Interesting to hear and agents opinion from the coal face -rather alarming, expecting worse to come.
May be too early to buy US$ assuming situation deteriorates further.
Interesting comment on low rate of savings at a regional level, causing local banks to securitize and on sell mortgages as they did not have the liquidity to carry the loans on their books. - Translate this to a national level in OZ with Banks going off shore to secure lending funds ?
Are we playing pass the parcel here in OZ ? Lets hope for full employment for many years to come or ouch
