Kincella, yes rate cuts by Sep / Oct and then down even lower in 2009. I have been saying this for quite a while but no one listens.
The media is doing a great job of painting a gloomy hopeless picture, God bless their sensationalist little hearts.
I am hoping it will scare off people from buying and, even better, I'm hoping a few more people decide to sell. I will be making some offers over the next few months to tap into the rising prices starting next year and going through to 2012.
I wish more people would read Hotcopper because the renters on this thread would scare the Bejeezus out of some people and help me get houses even cheaper.
I feel a little guilty seeing the rents rise on my properties but I remind myself that my tenants would be demanding lower rent if there were a surplus of rental properties.
I must admit to being surprised at how much rent people are prepared to pay, it's a bit scary. For the same money they could buy a house a little further out in the suburbs but they would rather rent in trendy areas than own in normal areas.
