(February 25, 2020 at 11:22 pm)ignoramus Wrote: That's the problem with corrections. They're indistinguishable from a landslide.
When Ireland collapsed and their property prices were heading downhill, on the way down, they had 3 major corrections where they started to upswing slightly.
Everyone (at the time) thought this might be the end of the downswing, and rightly so, but it ultimately was short lived and they finally hit rock bottom with an 80% decline in property prices. 12 years later, a large portion of home owners are still in negative equity even today.
It just worries me how bad it's going to get if the world does go into a full blown recession without any feds to help. Not like they can cut 4-6% in interest rates (which is/was needed to kickstart a failing economy). Unless of course we want to go into deep negative. Something which has never happened before.
It scare me to find out yesterday that billions of people's super (in the US) are going into 30 year zero bonds. Fuck me!
Call me an SOB, but I'm watching the market, and if housing prices drop far enough, I'll be buying a few houses to rent out until the market comes back up, and then I'll be selling them...if I live long enough. I suspect that the time frame is right for my spawn to live comfortably.
If you get to thinking you’re a person of some influence, try ordering somebody else’s dog around.
