The problem is there's opinions & stats to match just about any scenario so throwing a dart's probably as good a strategy as any .
But according to the news and clips everyday we're powering along,nothing to worry about round here, and don't forget we are the miracle economy after all and then, we're so much smarter than everyone else too so just throw a couple of bucks at it and we're done !
I owned a place during the 17% days but that was nothing like now . Things were still much easier then even at those rates . My place was so cheap I hardley noticed them to be honest .
But they'd be impossible now with our prices , they'd send the whole country into solvency , they know that .
In reality they couldn't even afford to go10% really, even at that it'd still be physically impossible for 1/2 the country to pay their mortgages , they know all that too. Personally I think it's impossible for us to see those rates again for yrs and yrs now no matter who's running the show .
I reckon rates could even go down again if anything, maybe next yr once all the stimulus stuff has worked through the economy and out the other side.They might go up a few more 1/4s first but in the end they'll have to lower them again to stimulate things if we slow .
One things forsure , if the rest of the worlds problems do hit us prices won't be going up that's forsure .
I'm even wondering lately if I should even be working so hard right now to build a portfolio at all . Maybe doing nothing for a couple of yrs would get me further . And even though I've never paid anywhere near market , who knows what might be on the table in say two yrs time for a song.
Maybe all my hardwork now won't even compare to what I could get then .
Maybe maybe's , if only we knew . I do know one thing though , personally I wouldn't pay anywhere near so called market right now myself .
Just an opinion.
Cheers
