Then you shall consider buying a home quick smart.
Avalanche of Chinese buyers is coming.
But it is not only the Chinese ones.
Whatever happens with Greece, Greek economy is in for a very rough ride. Did you know which city has got bigger Greek population than Athens? It is Melbourne. Sydney is not far behind. It is not a rocket science to predict huge wave of family reunions.
Greeks and Chinese aside, RBA for some obscure reason left the rates on hold yesterday. Good on them. I am just wondering how people do get jobs there. Apparently essential criteria is total economic incompetence.
It is so hard to predict what happens to our mineral exports after Chinese sharemarket lost 46% of its value over the last 2 months. Can't help whingeing - when median price of Australian property goes down 5% over ten years - it is "crash" and "catastrophy". When sharemarket crashes = correction.
To cut the long story short - the Chinese market crash will lead to the downturn in all resource-based economies - AU economy first of all, which will cause ASX crash (certainty - because it is GROSSLY overpriced).
There is going to be massive "run for safety" from the ASX as well. Plus interest rates will plummet.
Get prepared for the stampede.