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While Australia isn't quite the same as America where we live is one of the 5 fastest growing areas in the country.
In the last month housing prices have tumbled and demand has decreased. There are still plenty of lookers at open houses but few are buying.
In a town where a rental property was once hard to find there are more and more 'Rent Me' signs springing up as the rental market becomes saturated with houses.
Landlords are finding that houses they bought on a promise by realtors that they would rent for a certain figure can only be rented for a much lower than they were told. Many investors are now struggling to meet their repayments.
And even here in this fast growing area evictions and foreclosures are increasing. A local real estate agent told me the other day that we have still not reached the bottom yet and there will be worse to come.
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Left intentionally blank ... just like my brain
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