Once every couple of years the market overreacts to a series of events and decides to take a pause.
This happened in 2018 when a public figure said that Australian property prices were going to decline by 60%. It happened again in early 2020 when the CBA bank forecast property prices in Sydney to drop by 30 – 40%.
It’s happening again right now.
As a buyer, I love these overreactions when the media fails to report on where we are in the longer-term real estate cycle.
The next 3 to 18 months are going to be a buyer’s dream. I’m excited to take advantage of it.
As CBA said last week it is important to distinguish between financial market volatility and the real economy.
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