This forum will go quiet in 3, 2, 1...

I see a coming spike in demand for
- Brokers as people face rising rates they cant just simply refinance. Short term fixed rate will end and pain will start. Lenders may even slide back on servicing and policy.
- BA's since choosing what to buy will be even more considered. FOMO meant people bought anything. In the coming times they will be careful
- Discssions about selling / holding v that of how to leverage more debt or timing of sellinga dn falling prices even

Sadly I aso see a day when the ASX will take a pounding. So many people have shares and ETFs and their view that things dont crash will see a massive spike in "what the hell do I do " posts. I have never seen so many people who think indexes only go up.

 

What usually happens is the spruikers and wholesale BAs come out in force as they scurry to sell their stock. Pulling out all the stories of "Made $XXX in XXX time", many which may have actually happened, though may not happen again for a while.
They start advertising everywhere, as many already have, and this drums up interest and new people sign up. Some ask questions, other come to share their knewly found expertise and 4 week experience of RE markets.
With the snail pace of supplies it may be a lot slower than previous times.

 

I'm predicting a forum takeover by oldies like myself, discussing where to find the best term deposit rates...

 

I'm sort of back. lol. Yes, you still need income or increasing income to keep buying. how are you Simon?

 

Finally got the box seat...got the popcorn....now waiting for the movie to start.

For da record....the forum will be very busy ...perhaps more busy than ever... when people start asking how do I get out of this mess...or what do I do now as I can't refinance or IR are killin me.....or god forbid....Sydney is ******* place to buy....and Perth is the best place to buy in OZ.

OK...enough already start the drama.

 

Can’t be that bad, @sash

 

Let's see.... Fed did 50 basis point a couple of days ago. If they do three of these in the next 6 months...game over.....

 

Aren't US loans non-recourse? Punters can walk away without having to declare bankruptcy?

It may make stock in the US cheaper and impact upon the cost of borrowing from OS.

 

Los of us loans are fixed for 30 yrs less impact. Issue will be COL increases where people will default and then have to hand back houses.

Crises like these happen every couple of years in the US. People who have travelled there not how expensive it is there now.

 

Only in twelve states that I know of. The remainder are recourse. Depends on the laws in specific states I understand.

 

Kudos to everyone for growing this community and maintaining it too! I've previously been to forums where it was initially pretty active and over time the activities gradually reduced. I believe investors will need to take an even more active approach to growing their wealth and portfolio.

There are still many good quality posts being posted and the wealth of information contained in the forum. I think the genuine people who are in it to help one another will stay for the long term, unlike the people who cherry pick information and not give back to the community. I'm also talking about people in organised meetings when they approach you without any hello or pleasantries but love to know exactly which areas you invested in.

I am still relatively a new member in the forum compared to some of the original members from Somersoft but I would like to think I have included some good quality posts about my renovations and granny flats.

I personally would like to see people doing more vblogs and seeing people doing things on the ground, but I guess it's not for everyone and to protect one's privacy. I'm starting to get into drones, so another reason to see things from higher grounds!