I think we all need a bex and a good lie down.
Anyone would think that last year the RBA had cranked rates like a Dutchman pumping water over a dyke after a big storm.
They are only 4.75%!
Sure retail at the moment is not justifying the credit boom valuations of private equity shiny suits but employment is still below 5%.
5 – 5.5% would be more firmly in the Neutral Zone but as everyone seems to be getting freaked out by an impending attack of repo Romulans, leaving them at 4.75% for an extended period is now probably reasonable.
The property market melting at 4.75% accompanied by air raid sirens and four real estate agents on black shetland ponies is probably the best confirmation of just what a cracking investment real estate has been for the last 5 years.
Ave a good one!