Sunday, May 23, 2010
Shhh!!!! The market is sleeping....
Property investment land is a funny place. One minute, you are running off to KFC, blabbering off about how well everything is going, the next, dark clouds gather, the day turns gloomy and you wonder if you will make it through the day with a cent to your name. The market has been very very (and just in case you missed it the first two times, VERY) quiet. A few of my real estate buddies are reporting quiet times and in Ingham, where there are 6 agencies, re.com.au is only indicating TWO SALES PER MONTH!!! I wonder how long before a few of them will shut.
I do see light at the end of the proverbial tunnel. If interest rate rises finally stop this month, investors will jump. Yes, the share market is up the shit, but who cares? It's volatility is having an impact but investor sentiment regarding property should be high, especially after seeing how the market battled through the GFC strongly.
So one day, it's sleepy and not a lot of action, the next, perhaps after an interest rate announcement, KAPOW!!!, things will move again. It's the up and down tipsy turvy world that is property investing.
A bit of action around the two cheepies I have for sale, but I don't count sheep until they're in my bank account.