Us property investors have been a lucky bunch of late. It seems that due to the financial news/data coming out of the US, those awesome blokes at the reserve bank have wisely kept rates low, in line with nothing else but......the US data. That's right boys and girls, the interest rates have correlated nicely with the share market mumbo jumbo coming from America, and if nothing else, we can see that the current speculative flat period in shares (has lasted about a month now) has meant the RBA are going to keep rates low....you see, the recovery is not in full swing yet, some of the looming troublesome countries/markets around the world has many thinking twice that we are out of the red and here in Australia we can see that property data, as far as I can see, is reflecting this mentality. Property prices are still stagnant, it seems that getting them to move is a bit like getting Kevin Rudd's hair to move, but ladies and gentlemen, nothing we do will change that. So as Kevin's "hair" remains firmly rooted to his scalp, so have house prices remained exactly where they were, nationally at least, the change has been almost non-existent.
I hope that for a few more months the uncertainty continues. Yes, I know it's bad for business, but for us property investors, it's just that little bit more of a breathing space to sort things out, to take stock and to put in safeguards before the interest rate onslaught is upon us. Listen to the warning my fellow countrymen, keep an eye on the American sharemarket, the likeness to our interest rate rises is uncanny...
Until next time bros and sistassss...
1 comment:
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