dogma79Every week a few thousand properties change hands...

dogma79

Every week a few thousand properties change hands Nationally

I can tell you exactly how many and where and for how much but quite frankly that is not relevant here and will not make any difference to you.

Even though the R/E market is slow right now and prices have come down quite a bit (at least less than their highs in late 2006) there are still far fewer 1st home buyers in the market than well heeled investors.

Ask your broker how many new loans s/he has written for the 1st home buyers in the last 6 months?? this is indicative of the larger picture; lot of re-financing though!!!

Ask yourself why is that? because 1st home buyers can't afford the repayment and that's a fact.

Even now people are happy to buy any type of river front or beach front properties and pay top dollars for it and don't ask any question; you might want to ask yourself why that is?

10% or 15% for that matter in borowing cost for some of us wont make any difference when you can secure a exceptional asset.

being bullish or bearish about property market is entirely a personal choice.

I tell you this however "masses are ars!!s".

you can see this as an opportunity and be a leader and take advantage of these relatively low prices; invest now and benefit from it in a few years time or you can follow the trend of followers like a sheep and see where that will get you.

Unlike stock market that some would argue trend is your friend - in real estate trend is your enemy.

At the end of the day I prefer to buy in a depressed market (like right now) than in a bull market anywhere in the world .

High interest rates will only affect the worst off and its not a cure or solution to remedy the affordability factor.