I feel that the market is in stalemate at the moment. Where I am, houses have been on the market for quite a long time, overpriced and not selling. This signals a plateau and perhaps an end to the boom that we have been enjoying since mid 2006 up here in Queensland. It will, very soon, be a great opportunity for people to buy bargains, all we need is one more interest rate rise and a few more desperate people. It's cutthroat this IP business and you have to be prepared for the hard times, so you can then ride the good...
On a side note, I predicted interest rate rises to 2009 at least and I am standing by this. Although we have had a small reprieve, wait a few months and you will see the rates rise again...watch out!!!
www.ozpropertyinvesting.com.au
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