From: Tom Cleary
Interesting article in SMH
http://www.smh.com.au/news/0109/24/biztech/comment2.html
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.
Regards
Tom
Interesting article in SMH
http://www.smh.com.au/news/0109/24/biztech/comment2.html
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.
Regards
Tom
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