Property boom to fizzle without investors

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Via the AFR comes the whinging specufestor:

“If I invest now, even with mortgage rates at around 4 per cent, my returns will be lower, because prices have gone up so much and rents have stayed down.

“It’s also more difficult for me to borrow because the banks were more strict with their loan assessments and it’s taking longer to get approved.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.