We are experiencing interesting times currently, with opinions flying around about the current economy in Australia, especially with the new Government Budget release and then in a few months the upcoming Federal election.
I receive feedback from Business on most days and since Christmas 2015 things have been quieter and this is also reflected in the latest lowering of interest rates. This is probably one of the most interesting times since the early 1990’s in regards to how people see the market, though things were very different then.
The stock market crashed in the late 1980’s and we saw the likes of Businessmen Laurie Connell and Alan Bond tumble and investors turned elsewhere. We had unemployment in double digits, housing loan interest rates were at 17 percent and values in property dropped dramatically after previously booming.Real estate was seen at times like a lotto ticket, buy a house and then sell it in a couple of months to make a profit.
But these are far better conditions compared to the 90’s with interest rates at an all time low and unemployment slightly on the rise. The coming years will present plenty of opportunity as these economic conditions tend to move in cycles.We just need to think of the positives. It was not that long ago a lot of new projects were struggling to get off the ground. Today we have beautiful homes, new hospitals and new schools and first class retail shopping districts throughout Australia.
One day we will look back upon 2016 and say I remember when …