A look at the Cape Town property market.
Realestateweb.co.za closing down ... sign of the times ?Just before we enter the "fear" stage of the crash.Another indicator that all is not well in the world of property.
A good indicator I would say CJ. I dont see the sister sites like marketingweb or mineweb closing ;)On the rate cut note here is an article with this excerpt:On the pro-cut side we have mounting evidence of an economic slowdown. According to Statistics South Africa (Stats SA), retail sales basically collapsed in May, falling by a dramatic and alarming 4.7% month-on-month. Even though retail sales are erratic and a single month’s numbers are not definitive, overall the data suggest that consumers are coming under serious pressure.This is my experience and those who I speak to. Its like SA only realized there was a recession after the holiday week around Eostre.Paul Grignon's Money as Debt animation has become quite famous. For those who havent watched the sequel it is very informative and pertains to the bank and your mortgage as well as helping understand the current global crisis.
And voila' - This mornings' Cape Times headline "SLUMP in City Centre".....
@AnonCan you or someone please post the article from the Cape Times.Bold headline...
http://www.iolproperty.co.za/roller/news/entry/property_slump_hits_cape_townThe upside for me, is that in a few years time, i'll actually be able to afford my own property will a minimal Bond. What is the downside though.....?
I've put the link on the front page.
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