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RE: A tale of magic internet money and bricks and mortar
As you are into real estate, maybe you can answer the following. i tried to find info on real estate pricing after economic crash but didn't manage.
I have quite some cash, will i be able to buy more or less real estate after a crash like e.g. 2008? Thanks!
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I have access to Lands Title Office historical records dating back to 1993 so can get all that information but only for my own state here in Australia unfortunately.
As for your question...I believe during a 2009 GFC scenario may be a more advantageous time to purchase as you may be able to pick up stressed property when sellers (including banks) are simply trying to sell their way out of strife. Typically post the GFC-type-events things recover quickly and people looking for bargains may find they miss the boat.
I was selling real estate pre and post 2009 GFC here in Australia and I made more money in annual commissions during the event than prior or post. An indication of volume more than anything. With volume comes competition (for sellers) and that can force prices down; Certainly provides buyers greater bargaining power.
In my opinion, here in Aus at least, I believe there is financial pain on the way for many. The smart people are making adjustments to their habits now, the not so smart are consuming at the same, or greater, rate they always do. This will bring opportunity for some and destroy others. Just my opinion.
I'm reluctant to say too much as I don't want people to rely on anything I say however I hope this helps somewhat.
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Thanks man, very good information!
aussie edit: man => mate :-)
You're welcome.
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