US housing price to income ratio is half ours. A tapering of QE wont tighten the noose. Cant say the same here unfortunately.
RBA caught between a rock and a hard place and I am not willing yet to throw in $0.75 million on the chance it might keep rising. Even if it does, it will drop, the question is only how hard a landing. That I dont know. If I see a place I "have to have" then I may even buy, but emotion has never driven my real estate purchases. I always buy with the confidence I can flip the place for more than I paid the day after I buy it, and right now, property is just as shaky as the ASX. A house of cards at risk of blowing over.
Sector TRS was nothing more or less than a trade with the fallback that I would keep them longer term if the trade failed. I know absolutely nothing about share trading, but I do understand the money that can be made trading sentiment. TRS was a failure, lucky to get out on the exuberance ditching the MD, but already in the line to buy back in the $8's. Just like Cash Converters, its a great little contrarian investment.
And I absolutely agree it is gambling. Anyone who claims to know which way this market will go in a week, a month or a year is a mug. But I love the punt and I do far better out of it then the nags.
