Australia’s Property Crash.
Fellow economic disaster proponents Harry Dent and Professor Steve Keen routinely predict a cataclysmic Australian property crash.. soon. Always… soon.
Together the dynamic duo espouse their financial theories with gay abandon (a quaint old term, I know) in an effort to convince Australian property owners, investors, and anyone else who will listen that the end is nigh, and the only way to survive this looming financial Armageddon is to abseil down the debt mountain tightly tethered to them.
Sound, sustainable financial management is not rocket science. It is certainly not beyond the average Australian’s capability to manage their own affairs with the requisite skill, good practice and a little sound professional advice when needed.
One doesn’t have to have a degree in economics to know that reckless, wanton spending will eventually lead to grief.
Likewise, taking on excessive consumer debt, without carefully assessing how, or if, we can service that debt is foolishness in the extreme.
Whether its that new home, motor vehicle, boat or the ubiquitous credit card, the principle remains the same: we should live within our means.
Those at most risk of falling victim to Messrs. Dent & Keen’s projections are those saddled with excessive debt, and who spend like tomorrow will never come.
Author Neil Findlay
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