In our quest for financial independence I spent much of the last day of my break driving around the streets of Brisbane in search of an investment property. By Brisbane standards it was a quiet day (Show Holiday) so it was reasonably relaxed on the roads and my occasional moments of hesitation and unfamiliarity generally went unpunished by my urban counterparts. The fact that I was driving around in a rental Hyundai Getz, the most underpowered vehicle on the planet, also meant that I was never a threat to anyone's masculinity at the lights.
It was indeed a strange day to be looking at buying houses. Interest rates were heading rapidly northwards (thanks largely to irresponsible lending by financial institutions in the good old US of A) and the local stock-market was doing a damned good impression of the Titanic. The value of my superannuation has crashed severely (I'm not alone there of course but there's precious little comfort to be gained from group misery at the best of times) and the Dear Handbrake's equities certainly don't equal what they did a couple of weeks ago. Worthwhile properties in Brisbane seem to disappear within days of the 'For Sale' sign going up and anything which lingers for a while on the internet usually has some sort of downside which detracts from the appeal e.g. location next to a main road, flood-prone etc.
The fall in the market has prompted me to sell a few holdings, buy some others (generally upgrading into more solid stocks in the process) and generally review my share trading practices.
And still it goes down. The resources and energy sectors copped a pizzling again today. When will this stop ?