Rats leaving the ship

[thedigger]

Well looks like the bankers know what is ahead.

https://says.heise.com.au/bankers-flee-sydney-property/

 

[Northeast]

It is only a reference to 1 exec selling 1 property. Heise is drawing a long bow on this one perhaps.

Not that I disagree, there could very well be a lot of downside to the property market over the next 12 months.

:Y:

 

[Heatho]

During the most recent downturn the high end properties were being discounted the most and then recoved the fastest.

If you own property and are happy where you live and don't need to sell you're probably not going to lose money on your purchase if you hold it for the next 5-10 years. There's been 3 upturns and downturns over the past 15 years, seems the cycles are getting quicker though.

 

[Goldtarget]

It is only a reference to 1 exec selling 1 property. Heise is drawing a long bow on this one perhaps.

Not that I disagree, there could very well be a lot of downside to the property market over the next 12 months.

:Y:

If you click through to rhe source article, then its source it shows a few more examples. Interesting.

 

[thedigger]

I am sure a lot people never read the articles fully,or quite understand them and pass opinion.

 

[Northeast]

Touche GT and Digger - I only had a quick squiz before work this morning. Will be interesting to see how it plays out :Y:

 

[Mr Magoo]

Well looks like the bankers know what is ahead.

https://says.heise.com.au/bankers-flee-sydney-property/

I'd assume it's fairly common knowledge that the housing market could be in strife in the long term. Not necessarily 'Rats leaving the ship'. Just people in the trade knowing when to move. Use it to your benefit.

Like a mechanic avoiding certain cars, Tata's, Mahindras and Jeeps. All great cars till it's not.

 

[Swinging & digging]

Jeeps? Don't tell BW.

 

[Mr Magoo]

Jeeps? Don't tell BW.

Don't worry. Donned hard hat before posting.

 

[JD3]

Wont be surprised to see our Oz house market go like that in the US in recent years as the kick in from Covid takes effect over the next couple of years. Lot of home owners have been hanging in by the skin of their teeth before covid. Sad times ahead for many I feel. Sheesh, how many multi K cars are on the road now that the drivers dont own and will loose. The knock on, or knock down one should say, hasn't hit us yet. Many were living a false rock star, out of their true affordability, credit card debt lifestyle before the virus. Borrow against borrow against borrow, hence all the pay day loan adds in recent years. Its now over for very, very many now. Of course our silly pollies will keep allowing overseas buyers to keep buying homes and business's so as to keep a false impression going that all is good and keep the masses in ignorance whilst lining their own greedy pockets. . kaching! :money: