There's been a circulation of news on the record of household debts, though statistics reveal the majority of debt relates to housing and importantly; value of Australia's properties far outweighs that of our debt.
Property will always be stable and one of the most reliable assets. As long as unemployment is kept low. With the way Australia's property market is moving, I don't think the household debts will dip any worst.
But with that said. We still must be on our toes and keep an eye on our debt and how we can monitor and manage it efficiently. Why we must do so is in case of interest fluctuations and rises. Just like how it's rising at this very moment. Due to the fact that hot property states like Melbourne and Sydney are due to stabilise. The interest rates are highly likely to increase.
One small tip on what to take a look at now is the loans that investors and homeowners have. See if you can get a better offer, that's currently hot! It's best to take a look at it again and consult with trusted financial advisors and accountants.
What do you guys think? What are you opinions? What's happening with property in your countries? Comment below :)
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property is not always stable - it's cyclical - meaning that is is subject to price fluctuations as most commodities are. While some areas may experience growth, others will be in decline. The price of real estate is based on supply and demand and sometimes things like businesses shutting down can effect the local economy and force prices down. Also - rising prices and interest rates can also lead to a decline in demand as prices become out of line with profit expectations and become too expensive to make any financial sense. Such a drop in demand can push property prices back down until it is so cheap that investors start coming out of the woodworks and snapping them up again - increasing demand and pushing prices back up - a vicious cycle of supply and demand. So the market is more cyclical than stable. It might move slower than other financial instruments - but there is no doubt that real estate has its ups and downs. Buy it at the wrong time and you could lose all your equity - by contrast, get it at the right time and you could hit the jackpot.
I appreciate your perspective and honesty brother 🙏
Earned a new follower 😄
your welcome - and thank you! I really hope to see the real estate community grow here on Steemit.
Hey,
If you need trending topics,
then please follow me.
Thanks man!
Hey! Really liked this article for your practical analysis of the property market.
I recently posted an analysis of what Keynes would think of the Australian housing market, based off his essay "Economic Possibilities for our Grandchildren". It's a bit of fun, I think you'd enjoy having a read!
I'm interested to know what any readers think of Keynes' take on the fact that, if you're under 30 and living in an Australian capital city, you'll probably never own your own home!!
Mad about it? Sad about it? Let me know!
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