How the Pendulum Swings….
Life is like a big Grandfather Clock and we are all creatures hanging on the Pendulum of life with grim determination wondering in which direction it’s going to swing us next.
Such is the property market.
What is sad is that we have given the Pendulum absolute power and given up any influence that we could maybe assert ourselves. People are generally followers – there are very few leaders – and they will believe virtually anything they are told, hence the power of the press.
So where are we now? Well we’ve had the upturn – where everybody chased everybody else up the hill and pushed prices to an all time high. Then, when we reached the “summit” we slid down the slippery slope of the GFC and when we hit the bottom we started the long slow climb upwards again after losing our boots. However, no one has climbed too high for fear of falling once again.
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So, if you’re wondering where we are in the marketplace right now – we are meandering around the lower slopes trying to decide whether to climb up or down and waiting for someone else to take the initiative. Then perhaps the pendulum will start swinging again, everyone will climb on board and off we all go again.
So have you noticed in life that the most successful people do the opposite to everyone else? Well… that could be you! While everyone is sitting on their hands and watching to see what the “pendulum” does, you would be wise to jump right in and do whatever you were planning to do anyway. The universe supports positive action and always, always rewards it. How do I know this? I’m old enough. I’ve seen the pattern. When everyone else is yinging – that’s when you should ‘yang’ – the rest will follow, but it’ll be too late for them because they will have missed the boat. That makes you the leader and everyone else the follower and it’ll be you that reaps the rewards.
So, in this current market I would be ignoring what the market is doing, because the market is doing very little… mainly because people are doing very little…
Then plan what you would like to achieve next. It’s a fantastic time to upsize, upgrade, make whatever move that suits your current circumstances. Explore opportunities to buy your downsizer now while prices are good and rent it out for the next few years until you are ready. Make your move now whilst prices are at their lowest for the past decade. And remember, it doesn’t matter if your property has gone down in value because you’re no orphan – everything has come down so yes, you are in exactly the position that you were in before. So go out there and be a leader!
Source: How the Pendulum Swings…, Western Suburbs Weekly, Residential – 24 July 2017.