It's an interesting topic. Australia was mostly un-affected by the GFC than anything else. You don't have much to recover from when you're mostly un-affected. That was thanks in a significant way to the 1996 - 2007 government's economic management in the lead up to it.What's scary today, is all the economic signs are the same but WORSE than the lead up to the Great Depression, and I mean globally. The next financial "crisis" (will they call it GFC2?) will be way worse globally and far more impacting to Australia. There's only so much debt the world can handle before there has to be some sort of reset. Think of it like the Titanic. The GFC was the hitting of the iceberg. It was an "oh sh!t!" moment. The next one is going to be the sinking, or a "now we're completely F'd" moment.
The property market is going to become completely flooded with property people can no longer afford. It's already happening in the apartment market.
I've started the process of selling my investment properties... I'd rather have my money in my account for the next little while. Even if it ends up only being a small downturn. It's for my own peace of mind.
IBM ad from almost 20 years ago! (hence poor quality)
Supported videos include:
Please paste your code into the box below: