- BennyModerator@bennyJoin Date: 2002Post Count: 1,416
In answer to your question about “something bigger”, I guess that remains in the lap of the gods – any major world event will always impact on Aussie. But for me, I think the home situation (above) is far more relevant right now.
Well, another year has flown by, and what a year. And how’s the Covid19 pandemic for a “major world event”? Didn’t see that one coming, but now it’s here, and the whole world is staggering right now. Again, it is too soon for predictions about our housing market. On one hand, the current Govt stimulus is providing extra $$ while many businesses are forced to shut. For now though, many recipients are sitting on their hands and not spending the extra. With borders between States shut, the usual trading that happens inter-state is being hamstrung – not stopped completely, but certainly nowhere near as “free” as it was.
Thanks to Steve for his direction recently (see his webinar called “What’s your Pandemic Plan?” dated 8 Aug 2020). Sobering words in there, but also so much wisdom and even hope. Well worth a look for those who haven’t seen it (the Facebook page is here – https://www.facebook.com/pg/properinvesting/posts/ )
I don’t have much more to add right now. Could this pandemic thing be the catalyst that finally topples the housing market? I’m not so sure – yes, there are pricing falls here and there right now, but these are after huge gains in the last few years. With International borders pretty much closed, we aren’t inviting immigrants so no extra housing needed, meanwhile those building starts from the last 3 years are about to complete with a dearth of buyers. That HAS to have a negative impact on prices – but just how much? Too early to tell, and also with the pandemic, we’ve yet to see just how rampant it will be. Worldwide deaths are growing – as yet these are nowhere near the Spanish flu deaths from 100 years ago, but then this thing could go on for years. Who knows right now?
Not me. Borrowing words of hope though, “This too shall pass !!”HomeBuyerLouisianaParticipant@homebuyerlouisianaJoin Date: 2020Post Count: 17
This thread has been very enjoyable. I think you are baiting people with your comments but do agree there are some strong headwinds. A good investor makes money in up and down markets. I am in the US now and the market is on fire due to low supply. This has been good for me flipping homes. I don’t think it can continue so if it turns I am ready to build on my rental portfolio and buy upside houses subject to the existing mortgage. So basically up or down it doesn’t matter, just keep your eye on the market and adjust the strategy accordingly.
HomeBuyerLouisiana | Home Buyer Louisiana
Aussie entrepreneur investing in New Orleans houses