Friday, 13 February 2009

Home, home on the range......

An acquaintance of mine in HK is a property agent. As you can imagine, this isn't a pretty profession to be part of right now. I went along to a couple of events where expensive properties are sold off plan to eager, cash rich Asian buyers. I am now very glad that a voice of reason and caution got in the way and prevented me from ever, ever investing in them.

I saw her recently, looking slightly ashen faced and drawn. Funnily enough buyers are defaulting left, right and centre on these properties (or more accurately, the option to buy a completed property at some time in the future...) as they don't have the readies to fund it. In turn the developers are threatening to sue. She's stuck in the middle. Fun and games.

Anyhow, given this background I was astounded when this piece of marketing puff turned up in my inbox today. Do they not, I ask myself, read them before they get sent out? Would this be the same Australia that has been ravaged by a toxic combo of fires, droughts, rains and god knows what else? Who in their right minds would be in for investing of a piece of this right now??? Answers on a comment please...

2 comments:

mancsoulsister said...

You forgot all the taipans, redbacks, crocodiles and other nasties that makes Australia the expat destination of choice!

lottip said...

It looks quite nice...