It seems the Christmas cheer exteneded well into January this year, with retailers enjoying the extended festive season as shoppers cut loose.
Data recently released revealed shoppers parted with a record $18.6 billion in January. That's a statistic high enough to raise the eyebrows of every economists around the nation since it was well above expectations.
It shows that three interest rate rises are no match for the juggernaut of a posse of happy spenders. Yet with much of the spending no doubt on credit cards, and for items that depreciate rather than appreciate, perhaps it will take another hit or two from the interest rate stick before we'll change our behaviour.
Last week things looked better for investors on the back of higher rental reports and lower vacancies. This week it is confirmation of the trend of interest rates heading upwards.
With so much confusion, make sure you have a plan that makes sense. I suggest you cruch your numbers with interest rates (at least) half a percent higher than they are now to see how great the deal looks if the lending environment changes for the worse.
On another note, well done to those who booked a seat for the upcoming Martin Ayles bus trip and bootcamp. I'll be seeing you in Adelaide in a few weeks for what is certain to be an elightening and enjoyable event.
Finally - congrats to my lovely wife who enjoyed a birthday last week!