Post to Facebook on 17/6/2020 10:23 AM
Commenting on “Options for first-home buyers narrow as listings below $700,000 drop”
https://www.domain.com.au/news/options-for-first-home-buyers-narrow-as-listings-below-700000-drop-data-962161/
As long as the community is not completely free to move around, and there remains great uncertainly about employment prospect, potential sellers will continue to hold on to their properties.
The question is why sell unless one has a reason to do so. When one sells his property, he needs another one to live in, whether you call it downsizing, upsizing or right sizing.
The prices will not drop, as I mentioned in several blogs. Unfortunately, due to scarcity, the price may even climb a bit higher.
The critical time is around the end of August and September, when the mortgage repayment deferral and Jobkeeper payment will discontinue, unless the government changes its heart.
Many landlords are facing financial trouble too, with tenants not paying rent during this period.
All these unfavourable conditions can lead to only one conclusion, that is, many property owners may have to put their properties in the market reluctantly, not by choice.
In recent weeks, a lot of activities have been going on with many mortgage holders looking for brokers to refinance their mortgage, in order to lower their repayment burden.
Thank you for reading.
Commenting on “Options for first-home buyers narrow as listings below $700,000 drop”
https://www.domain.com.au/news/options-for-first-home-buyers-narrow-as-listings-below-700000-drop-data-962161/
The question is why sell unless one has a reason to do so. When one sells his property, he needs another one to live in, whether you call it downsizing, upsizing or right sizing.
The prices will not drop, as I mentioned in several blogs. Unfortunately, due to scarcity, the price may even climb a bit higher.
The critical time is around the end of August and September, when the mortgage repayment deferral and Jobkeeper payment will discontinue, unless the government changes its heart.
Many landlords are facing financial trouble too, with tenants not paying rent during this period.
All these unfavourable conditions can lead to only one conclusion, that is, many property owners may have to put their properties in the market reluctantly, not by choice.
In recent weeks, a lot of activities have been going on with many mortgage holders looking for brokers to refinance their mortgage, in order to lower their repayment burden.
Thank you for reading.
