Always do your DD when reading about property markets written on blogs about countries that are on the other side of the Earth, especially when they hype a particular dogma or sentiment.
One particular blog is declaring economic collapse in Australia. He is saying the party is over here...it does not feel like a party..nor does it feel like any sort of party is ending...
I don't think the whole story is represented in some of these doomsday blogs.
Some ( Deflationists) blogs are looking at small sea side resort villages here whose property prices go up and down like an Aussie King tide all the time, ad infinitum. Come next Aussie summer you will be reading how high those prices in those same seaside areas have climbed! You must read wide to garner your own opinion. Talk to locals. Come downunder and visit.
Houses are almost always auctioned here in Spring and Summer, thus creating a cyclical nature to sales reports. That can skew month by month results and bring out doom-sayers in droves.... and fool readers who do not understand the Real Estate sales system here.
Online retail is booming. I have included a link off Bloomberg regarding retail. That same article was ironically off a deflationist's site...it was meant to make a point...about what I am not sure...he was trying to say the party is over in Australia...AGAIN, for the third or fourth year. But instead, his linked articles really underlines some strengths in retail.
This same deflationists are pointing to Tourism numbers being down. HELLO...this is due to our 12 months of horrific weather events in all the prime tourist areas...would you want to come to Port Douglas or the Gold Coast or Brisbane during biblical floods....I don't think so. Maybe that is the deflationists idea of a good holiday...lounging by the pool watching suffering and destruction while floods rage. Or maybe they just do not get out much. That'd be right!
Does this look fun?
Another article out today contradicts doom sayers desire to see the ship sink. Our bankruptcy rates are the lowest since 2005 and our saving rate is climbing.
I have provided some headlines and sources for you to consider. Don't get caught with your pants down on one side of an opinion, especially for 6 years You will come away with a very cold bum!
Those calls for Australia's imminent collapse are now six years old and older...they come from the already defunct deflationist camp who have yet to take accountability for their wrong calls after 15 minutes of fame went to their heads....both deflationists and property scaremongers in Australia have cost investors a fortune...One word: timing. Two letters: DD. Three words: Early is Wrong.
Stockmarket gains have made history in those years since deflationists told us all to hide our money under the bed! They failed to understand liquidity dumping and reflation.
Property prices in Sydney, Melbourne and Brisbane and The Gold Coast and Byron Bay and Perth ...you name it, have gone up anywhere from 50 to 100% since those 6 year old calls to sell , sell , sell , sell ,sell! Prices can drop 40% tomorrow and home owners will still be ahead (who bought when Keen was urging people to sell).
One day it will be time to sell...but the deflationists are watching the wrong things and frankly their rankor is starting to stench up the place!
I don't have an opinion one way or the other, I just believe what I see-- and I try not to see what I believe, wish for, or fantasize about when it comes to stocks, bonds or property markets....! Shaza
PS my crystal ball says all cycles come to an end, and when the Aussie property, retail, commodity , etc, cycles come to an end I predict a few blogs will start screaming ''I told you so".... meanwhile, the rest of us have made a quid on taking it one day at a time and leaving dogma at the church door.
Moral of story: ONE DAY AT A TIME.
Some readings and areas for expanding your DD on Aussie Property markets:
No Sign of Mass Economic Collapse In Australia...If bankruptcy proceedings are anything to go by