I pray the market keeps going, I have all my money tied up in it.
I am in progress of developing 2 properties and have 3 more awaiting the bulldozer.
Although, I must say, the credit revision and new serviceability matrix has caused a dip that I felt. [MENTION=12409]Stiffy[/MENTION] ; can elaborate on that, as I only see it from the investor view, but it used to be a low easily met hurdle based on a family of 3 back in the 70s or so. now that it has been revised the borrowing criteria is much tougher meaning that kunce can only borrow 50-60% of what they could before, kunce loan applications are rejected a lot more often now.
Which means bad news for the grunta, cos grunta knocks down houses, builds swanky dual occs and happily sells them to kunce that can barely afford them.
Now that money is hard to get, kunce can’t buy, so prices are dipping, so the great grunta keeping his properties cos rent will skyrocket and he who has properties charges what he wants, as kunce have to live somewhere.
[MENTION=12409]Stiffy[/MENTION] ; you concur? Tell us the science behind it, just don’t put us to sleep with boring accounting crap.