There will always be bulls and bears in the any market, happy for you to take your position as a bull.
People like my friends in the 18-35yo range will be in severe financial stress with a rise of 2% to their mortgage rates. Naturally I’m concerned for them... all they have known is higher prices and low interest rates. When not if, prices start falling let me assure you it’s gonna be a pretty sad situation for them all. All cycles turn.
I’m from Brisbane, prices in Brisbane have gone nowhere in 5 years and units are massively overvalued and oversupplied. I just moved from a unit block and unit 8 was bought for $440k in 2013, sold for $360k in 2016. So the market is falling here... but the media, and property sprinklers fail to report it.
I have cash, could buy a small unit with cash if I wanted too, but with the market turning and interest rates about to go a lot higher through 2020+ naturally renting for me will be much cheaper.
Lastly, I’m switched on when it comes to Brisbane... I work for developers, financiers, wealthy families etc. I know the local market well.
