Autumn here and in some parts of the country you certainly wouldn’t know it! Just coming back from Brisbane and North QLD this week, with hot and humid temperatures and almost a heatwave in Brisbane, it was good to get back to a more temperate environment 🙂
As the US also head into their springtime, in a number of parts of the country the snow is clearing and sun starts to shine more. Daylight saving time has just commenced as well in the US and we here in Oz will look forward to ours finishing now, giving possibly a little more light in the mornings to us southern early risers!
Even though there are also some huge differences between Australia and the US in relation to the property markets, in some cases many things can follow the same rules. With the US also enjoying market growth over the past few years (albeit a more steady growth than we saw here in AU) they are finding the more expensive markets starting to soften, as we are here in Australia. Now, while the US is seeing what I would suggest is a normal property cycle softening (some areas are still booming – like Michigan!) the Australian market appears to be more on the back of very difficult credit times – with the banking royal commission kind of a Straw vs Camel’s Back scenario.
I noticed just this week, that the government have done a back-flip on pushing the banks to removing trailing commissions for Mortgage brokers and I think this is a good move. The massive reduction in competition that the virtual demise of the mortgage brokering industry would have seen (really, not too many would have paid brokers thousands up front to find them a good mortgage even though it still could have saved them tens of thousands!) has now been avoided and banks will still need to keep the pencils sharp with their offerings! Ahh, fun times to be a global investor right now hey!!!
On the back of all this, we are seeing huge influx of new clients now, wanting to invest some funds into US property, to at least diversify the portfolios with the softening markets and I can say this is a sound strategy! If you want to book a spot before we fill up, jump over to our website below today!
Have a great weekend all and happy investing !!