DislikedSo Paul and Stulic, how were the things when markets collapsed in 2008 and aussie hit 60cents? how did it recovered in 5 months and started climbing to 1,10, just to compare? And the interest rates were at least twice higher than now as i can remember? The scene is better or worse now?Ignored
It's worse because it is now a similar position as the USA - people over leveraged on property, with no way to repay if it collapses. Manufacturing is Australia is no existent due to high wages - the same wages needed to pay for the loans that support those properties. Its all balanced for the time being, but once crack appears it will fall. Everyone in Australia complains about the foreign investors in property but they are the ones saving certain collapse. Mum and Dad investors with 100k joint incomes buying 1 million 'investments' haha its like fx trading on a bigger / slower scale.