Is confidence starting to seep back into the market place?
Is it a “knee jerk reaction”?
There seems to be some discussion as to whether the slowing of the economy is a “knee jerk reaction” to the downturn of the US economy.
We have all been taught to be cautious when money gets tight or there is a problem ahead. We get taught that from a very early age. Why should it be any different now when we are adults.
Caution has hit right across the board, companies have not been spending, in fact many have put off staff and the population in general has been holding back.
The point is that the Australian banks are some of the strongest in the world and our interest rates at 3.25% are still up there amongst the highest in the major developed nations of the world.
Some US real estate agents say they have not been busier. Sure, they have been selling a lot of homes that have gone under foreclosure but many are also saying that they are seeing signs of a turnaround in the market place. If that is the case and confidence starts building again then the Australian market could start picking up rather rapidly.
Do you think that the confidence is starting to seep back into the market place?
This is a question you will have to ask yourself in the months ahead.
Let me know your thoughts.
Filed Under: Property News
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