Thanks for the replys
we did have a mortgage broker come visit us last night and go through some lending options .. We are not at an age or income level to take on a largeish loan no matter how much the bank says we can.
Though cheapish properties do come on the market now and then
they are few and far between these days.
If i'm reading right 40 % of home lending on existing homes is for investment as opposed to 8 % not to long back, while new home building hasn't risen much behond demand in 40 years.
That 8 % used to declare a profit of around $ 400M
Most of the 40% now right down a loss into the many billions ? That to me seems a worry if your typical husband /wife has sold of some existing equity in a property to take on debt to make loss ??
Looking into the rental market again I notice while vacancy rates are
small overall the higher priced homes are now become more common while demand for more affordable ones is getting really tight.
I guess corrections happen inevitably , sadly kids with a lot of debt and
maybe the investers might where some grief .
thanks for your thoughts , I think I'll wait a little and save some more ,
it cant hurt to have the cash in the bank earning reasnable interest
in the short term.
graham