The latest from our property insider. https://www.ribbonproperty.com.au/
Link to the radio item we discuss:
"Intelligent Insight"
The latest from our property insider. https://www.ribbonproperty.com.au/
Link to the radio item we discuss:
In the latest in our property spotlight series, we examine the fast changing suburb south of Sydney, where just 22 percent of homes are now houses, as the rise of the high rise continues. This may not bode well for the myriad of property investors in the area.
Tuesday’s live show: https://youtu.be/wKL1KHLy6V0
Domain released their preliminary results for today. They note that “from Thursday July 9 the Victorian government placed a ban on public real estate auctions as part of social distancing measures to slow the spread of COVID-19. The number of auctions withdrawn in the immediate weeks following the ban are likely to be higher than normal”.
Canberra listed 66 auctions, reported 58 with 47 sold, 2 withdrawn and 2 passed in to give a Domain clearance of 81%.
Brisbane listed 67 auctions, reported 35 with 18 sold, 2 withdrawn and 15 passed in to give a Domain clearance of 51%.
Adelaide listed 39 auctions, reported 28 with 22 sold, 1 withdrawn and 5 passed in to give a Domain clearance of 79%.
Finally some of the commentators are seeing though the Government spin to the underlying ideology, and are highlighting the weaknesses and risks in the massive proposed spending. And it’s not so much the quantum, as the direction of fire…
The RBA’s latest speech marks a distinct change in tone, and signals lower rates for longer. This is bad news for savers in particular as deposit rates will drop to zero or below.
In this Rant, I go though the economic questions of the day – especially in relation to inflation and deflation.
I caught up with Harry Dent, economist and author, to check in on the markets and his view of a crash coming soon. He explores the latest data indicating a significant reset is due, and discusses the preparations to be made ahead of this event, when it occurs.
He also highlights his upcoming online seminar on the 16th October 2020 where he will explore this further, ahead of the launch of his Dent Sector Fund.
“All my research shows that the greatest boom and bubble in the history of the world cannot last. The current pandemic I believe is a key trigger to the correction, one of a magnitude the global economy does not often see. Governments printing trillions of dollars and giving it away is an unsustainable recipe for disaster, keeping Zombie businesses alive past their time, supporting consumption patterns that cannot last. It is the future we must look to. I hope you might join me in the journey!”
Note: DFA has no commercial relationship with Harry Dent, or the fund promoters.
Join us for a live Q&A tonight as I discuss the critical question of whether digital currencies like Bitcoin offer protection in a world of fiat currency money printing with Alex Saunders from Nuggets News https://nuggetsnews.com.au/.
We get behind the latest data and FTB “bribes”. Buyer beware!