Post to Facebook on 21/3/2020 1:21 PM
Commenting on “Is it panic buying or panic selling?”
A Facebook group member of SFC Real Estate News and Articles messaged me a news articles about people still rush to buy properties. He wondered whether it is panic buying or panic selling?
I replied it was a matter of stupidity, and explained as follows:
Most of the young buyers are financed by Mum and Dad bank. Unfortunately many of the seniors do not realise their superannuation funds and bank interests are so badly eroded that their money is dwindling.
Even high income buyers, like all those ignoring the self-isolation order, ignore the signs of doom, may not have a job to go back to in a few months time.
Paying the deposit is only the start of their nightmare.
Thank you for reading.
Commenting on “Is it panic buying or panic selling?”
A Facebook group member of SFC Real Estate News and Articles messaged me a news articles about people still rush to buy properties. He wondered whether it is panic buying or panic selling?
I replied it was a matter of stupidity, and explained as follows:
Most of the young buyers are financed by Mum and Dad bank. Unfortunately many of the seniors do not realise their superannuation funds and bank interests are so badly eroded that their money is dwindling.
Even high income buyers, like all those ignoring the self-isolation order, ignore the signs of doom, may not have a job to go back to in a few months time.
Paying the deposit is only the start of their nightmare.
Thank you for reading.
