Posted to The Age (13/1/2011) on 13/1/2011 at 2:55 PM
Commenting on “Counting eggs before they hatch”
http://theage.domain.com.au/real-estate-news/blogs/domain-investor-centre-blog/counting-eggs-before-they-hatch-20120110-1pt5n.html
If there is a bush fire in a country town does not imply the whole of Melbourne is on fire. The crash in some regions is more evident and severe than others. Indeed, some suburbs do experience fall of 40%.
Many properties in certain suburbs are highly inflated, due to overseas investors’ coming to snap up properties in a rather uncontrolled manner – without requiring FIRB’s prior approval. This was an ill-thought out policy from Kevin Rudd who tried to avoid the GCF. This policy has now been reversed, and the overseas investors’ retreat stops further speculation, and the prices fall substantially and hurt many locals who follow the Joneses. Easy finance also attracted many who could not afford to fall into the mortgage trap and these people will be victims suffering from financial suffocation.
Life is more than just possessions and owning a property. During difficult times, people need to make sacrifices. My wife and I went without chairs for two years when I bought my first home. We used to sit on cardboard health drink cylindrical boxes.
End Part 2 of 4
Commenting on “Counting eggs before they hatch”
http://theage.domain.com.au/real-estate-news/blogs/domain-investor-centre-blog/counting-eggs-before-they-hatch-20120110-1pt5n.html
If there is a bush fire in a country town does not imply the whole of Melbourne is on fire. The crash in some regions is more evident and severe than others. Indeed, some suburbs do experience fall of 40%.
Many properties in certain suburbs are highly inflated, due to overseas investors’ coming to snap up properties in a rather uncontrolled manner – without requiring FIRB’s prior approval. This was an ill-thought out policy from Kevin Rudd who tried to avoid the GCF. This policy has now been reversed, and the overseas investors’ retreat stops further speculation, and the prices fall substantially and hurt many locals who follow the Joneses. Easy finance also attracted many who could not afford to fall into the mortgage trap and these people will be victims suffering from financial suffocation.
Life is more than just possessions and owning a property. During difficult times, people need to make sacrifices. My wife and I went without chairs for two years when I bought my first home. We used to sit on cardboard health drink cylindrical boxes.
End Part 2 of 4
