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From: Tom Cleary

Interesting article in SMH
which suggests that consumer spending on durable goods is about to go into reverse (houses are a durable good not an investment,ie they are a consumption good)
Should this happen you should see the price increases of the last 3 years wiped out. For most people this will not matter as they will be staying put, unless they have the misfortune to contact the real estate agents favourite diseases,divorce, unemployment, sickness.However the retailers,those who buy to sell at a profit or rent out could be facing lean times ahead
So it looks like batten down the hatch's at least for the time being.
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Reply: 1
From: Cathy Baxter

SMH Money and Business, Commercial Property section on Saturday 22/9/01 says "Property [investment] and the United States Army will lead us out of this mess," was how one property adviser summed up events of the past two weeks. Bricks and mortar are still seen as the best investment in uncertain times and that trend is unlikely to ease over the next few weeks.

So who knows where is the market headed?

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