Life is stressful,
Housing prices have skyrocketed,
Buying a house is a luxury!
Whether renting or buying a house, many people can't afford it, and many people need to rely on credit cards to make ends meet.
But there are also people who directly save up 6 suites!
How did Maggie Zhang, a Chinese Australian lady, accomplish this goal that countless people can't do?
Ate bibimbap with hot sauce for a year
Desperately save money
Maggie Zhang saved up multiple suites in a year, and the Australian media thought it was a very magical thing and reported it.
It boils down to one word:
Province!
Maggie Zhang is a healthcare management consultant who is arguably one of the most common in Australia, but since setting her goal of buying a home and looking at the target property, she has made a long-term plan.
Over the course of a year,
She spends her own money,
Straight to the bottom!
Even for dinner on weekdays, she almost just solves it with simple hot sauce bibimbap to save money to buy a house to the greatest extent.
It may be difficult for ordinary people to stick to this kind of life, and Maggie Zhang has also been anxious when she sees the rise in housing prices, worrying that the speed at which she can save money cannot keep up with the speed of housing price increases.
Fortunately, her hard work paid off, and she bought the property she wanted.
After buying the property, her goal is not simply to live in it, she hopes to take advantage of the current rise in Australian housing prices to get a share of the real estate market.
After buying her first property, house prices soon began to rise because of her discernment, and after the bank refinanced, she had more funds at her disposal.
Then, she bought a second property.
Buying a house, appreciating in value, refinancing, using the money from financing to buy a house again.
This is also the mode of making a fortune for many property investors in Australia.
It is very simple to say, but it is very difficult to operate in practice, first of all, to ensure that you have an accurate investment vision, the value of the property should appreciate and not depreciate, because of frequent financing, the amount of loans that need to be repaid to the bank every month is also a large amount, if you can't maintain a stable property income, cash flow may collapse.
Fortunately, Maggie Zhang survived the most difficult period, and now she,
6 properties in hand!
Taking advantage of the current property market, she is planning to sell her two investment properties in Broadeadows and Frankston North.
The sale of these two properties will bring her more cash flow and then move on to the next step of her property investment plan.
For the current Australian real estate market, the industry is generally optimistic, and the biggest reason is the Reserve Bank of Australia's decision to cut interest rates this year.
Although it has not yet been officially announced, it is likely to be implemented in the second half of the year.
The Reserve Bank of Australia (RBA) is going to cut interest rates six times
House prices are going to soar
For both ordinary home buyers and property investors, the RBA's official interest rate adjustments are crucial. The logic is simple,
The Reserve Bank of Australia (RBA) will raise interest rates, increase the amount of loan repayments, and increase the pressure on mortgage repayments, which will lead to a decline in house prices.
Conversely, if the RBA cuts interest rates, house prices will rise instantaneously, depending on the magnitude of the rate cut.
This year, the Reserve Bank of Australia will most likely choose to cut interest rates, because the inflation rate, the most important indicator affecting the official cash rate,
It's already infinitely close
Target range!
Whether it is for the sake of a prosperous economy or to ease the pressure on the people, the Reserve Bank of Australia will basically cut interest rates this year.
Once the RBA starts cutting interest rates, house prices, which are already steadily rising, will only rise faster!
In January this year, some experts predicted that in order to revive the economy, the Reserve Bank of Australia may cut interest rates six times this year, which will directly increase house prices by at least 5%.
Of course, this prediction was soon confirmed to be unlikely,
6 rate cuts are too crazy!
But even if interest rates are not cut so many times, house prices will still rise, but the magnitude will be different.
However, some people said that the RBA still faces an obstacle before cutting interest rates this year.
Cash deposits for Australians,
That's too much!
The latest statistics show that the amount of cash deposits of Australians has been reached
1.46 trillion!
Although the rich have more deposits, and the number of deposits of ordinary people is not so exaggerated, the total amount is there, once the pressure on everyone is reduced by the RBA.
Many people can increase their consumption in an instant!
This could lead to another rebound in the already manageable inflation rate.
For so long, the Reserve Bank of Australia has restricted everyone's consumption by raising interest rates, with the aim of controlling the inflation rate, and any factors that may allow inflation to rebound are what the RBA wants to stifle.
Therefore, the record number of deposits has really added a lot of obstacles to the RBA's interest rate cuts.
The current forecasts of financial experts and major banks are:
The Reserve Bank of Australia will cut interest rates,
But the number of times is limited!
This year's rate cut may be more of a temptation, and the real rate cut may all be scheduled for next year.
But it is undeniable that once the interest rate cut begins, Australia's house prices will skyrocket and be unstoppable!