Woohoo Property Up We Go!

Woohoo Property Up We Go!

It has been a fantastic week!

Even the world’s most steadfast “panic and sell” proponent, Harry Dent, came out with a big announcement to buy stocks?

Now, this really is something, and my financial markets newsletter members will be aware I made much ado about this during the week. I even went as far as to say maybe it's time to sell stocks?

To be honest, I went too far. It actually remains a time to buy stocks. Though as whenever the people who always get it wrong, begin to agree with you, it is time for some kind of reality check?

That done, I would like to suggest to you that the rebound is already happening in our stock market and the Australian dollar is likely to continue. This supports a strong outlook for property too. Even the International Monetary Fund came out during the week and raised their forecast for Australian growth, but they cited a strong global environment for doing so.

As I keep saying, Australia is doing well because China manages its economy well.

The point remains, however, that people like Dent have the gall to tell everyone to sell for eight years while the market goes up tremendously. Then announce a “you should buy stocks” shift with no apology for the harm they have done. You see, they have done a great deal of harm to people they told to stay out of stocks and property all this time. Families have literally lost their place in the world, and perhaps so for the rest of their lives.

This is what happens in a rising market. If you leave it or don’t maintain an adequate portfolio, you get left behind in a way that makes it difficult to ever catch up. People use to not believe me when I would tell them that right here, right now, at the highest stock and property prices we have ever seen, that this is cheap!

Property Up We Go!

How can it be cheap they would ask?

Because “this is the bottom of the future range” I would say.

This was years ago, and all of us who said to buy and build your portfolios were correct. It was you, however, who did so. Who had the strength, even courage in the face of an adverse avalanche of negativity in the media, to actually do it. Congratulations to you!

If you are still thinking about starting out with a property portfolio, well the truth with any market is that there are no guarantees. My gut feeling, which is after all, what decades of experience in global markets comes down to, just gut feeling, is that this week’s Harry Dent acceptance of the reality of the prosperity we have talked about for years, is just a sign. It is a small sign post. That a great many people in the world and in Australia, haven’t done what you have, and are scrambling to catch up across stocks and property alike.

There is no property market bubble. There is just astounding wealth, combined with burgeoning demand from all directions, driving property prices higher.

I keep saying we have only seen the tip of the iceberg in property prices shifting historically higher. This is a long lasting multi-generational price shift.

It's important to be onboard early. And early is still now.

Clifford Bennett

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