the great oz housing scam exposed, page-6

We should all know by now that there is no such thing as something for nothing. All this wealth created out of thin air - no, it was created by new home buyers using more credit than they should; hence we are now seeing a counterbalance 'effect' in other sectors of our economy. Normally when debt levels are raised to meet high housing costs we would see wages rise at the same rate. But that is not the case with us - we have increased our debt levels but we have also had our incomes go backwards in relation to living costs. Every service and labour cost we pay for on this land has risen disproportionately to what we're really earning. These costs have simply risen by the artificial money that's still running through the system.

Think about it - every concreter, every plumber, every cabinet maker, every carpenter and bricklayer, our councils, our developers - all these groups are thriving on the money created by others borrowing, not earning! And there lies our problem - because our growth has been largely on the fact of 'debt expansion' we are now seeing 'that' money being removed from 'somewhere else'. That 'somewhere' is most areas that comes under the discretionary spending, such as retail.

People are not as stupid as we make them out to be - they are NOT going to compromise their chance of keeping a roof over their heads by spending without self control. And it is for these reasons why they are refraining from participating in the game we want them to play; they're now in 'survival' mode and will show an utter disregard to the economy and will do everything they can to beat the system. That would be - only by cheaper Asian products, only buy when something is 'heavily' discounted, buy online, or not buy at all.

I'm tipping we will eventually see a lot of empty stalls at the big shopping complexes, because retailers are in cut throat dire situations right now. Another interest rate rise, a tweak here, a tweak there and then wham - that's when many will just say "enough is enough" and tell the complexes to stick their $2000 a week lease where it fits.

But it wouldn't be the end of retail - these near empty complexes would have to adjust their leasing costs to see retailers return, and with it we will see the lower costs past onto us. Now here is a scary thought - most working housewives in NSW and Victoria work in the retail sector. And why are these housewives working, because 'they want' to?