I discuss the latest with Chris Bates, Financial Adviser and Mortgage Broker, and we also answer some viewer questions. Is the property market in recovery mode now? Is so, where?
Chris can be found at www.wealthful.com.au & www.theelephantintheroom.com.au plus via LinkedIn: https://www.linkedin.com/in/christopherbates
If you have a questions for Chris and I, send it via the DFA Blog
– My personal opinion is that anyone who buys now, even in a good, a premium neighbourhood, is trying “to catch a falling knife”. In that regard I disagree with Chris Bates. I think that property prices even in those premium neighbourhoods will fall easily say 50% or more. And then the entire property game will change for the VERY worst. Then we are in a entirely new & different (property/economic) game. Then we are in socalled “unchartered waters”.
– “Longer commuting time” (for e.g. Wollongong) ?? Perhaps, but when the economy has entered the Doomsday or Armageddon phase then “all bets are off”. Then I think the train service between Sydney & Wollongong will actually transport much much less people. Perhaps then that railway line will actually seize to exist. Again, “unchartered waters”.
– No, I am NOT optimistic for what the future will bring.