G’day from the wee fishing village of Anstruther near Edinburgh, Scotland

Well, it’s all happening as I predicted. 11 straight months of falling house prices

Banks and other lenders, unable to source cheap money, jacking up their loan rates independently of the Reserve Bank’s direction.  Interest rates go up, affordability drops, house prices decline. When a market is already in decline, and buyers are heading for the exits, (oh, no, wait…. they’ve already left!) Shit!  Ahhhhhh…..oh oh! We’re screwed…

I told you a long time ago. Sell your house and rent. Only a very few listened.

If you had a house worth say $800,000 in January this year, you have kissed goodbye to a minimum $60,000 depending on your marketplace. Perhaps more….and…even if wanted OUT now, there’s no buyers!

Oh deary deary me.  Should’ve listened

 

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