Tuesday, July 14, 2009
July Market Commentary
Well it's been a topsy turvy month if you look at all the conflicting online news websites, but overall, the market is much the same. Pretty shit....I mean overall, yes auction clearance rates are looking better, house sales are on the way up, a lot of new building activity and the nation as a whole, can now safely go back to KFC and put the rice cookers away for a little while. I wonder though if this is all just false economy. The stock market looks like recovering, then BAM!!!, it drops again and uncertainty returns. The market picks up not soon after and everyone is saying recovery this and recovery that, until it drops again. This is having detrimental effects on housing prices, through people's perception of my favourite asset class as a favourable vehicle for their hard earned KFC money.
So overall, commentary is mixed, houses look very cheap and housing stock are moving, but I wonder at what discount....as I mentioned before, October will be the indicator.