Well, we have been watching the financials for a while now, as it affects not only our retirement funds, but also our future plans. Today the RBA (Reserve Bank of Aus) reduced the interest rate by a whole percentage point, and there is BIG pressure on the big four banks to follow suit. Hopefully this will create more confidence in the housing market, and our (prospective) purchaser (wherever they are) will sign on our house, and then we can realise our dream.
This global meltdown affects ALL areas, including families with mortgages, businesses, Baby Boomers preparing to retire, self funded retirees already retired...................................
Who now has the $130K of our superannuation that has vanished??? And the funds of all other super holders??? Someone out there is getting VERY RICH from our funds. Aussies have lost billions of retirement funds in this debacle, and it seems us Boomers need to put our plans on hold and work for a few more years. Bugger!
That is my rant for today.
Hopefully tomorrow, or very soon, I will be able to report that we have a sale on our house.
Fingers crossed. Prayers to my improvised St. Joseph statue. I know we have a lot of very nice people pulling for us. Thanks to you all; you know who you are. :-))
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2 comments:
Your blog was very intersting to read today. One hears that the financial mess here in the states is causing concern world wide, and it certainly appears to be true. There is so much concern here regarding home mortages, credit and rising prices in the grocery store, not to mention when we will bring our soldiers home from Iraq.
Thanks Beverly for your reply. Things a looking more grim by the day down here. We are trying not to stress about it too much as there is nothing we can do, just pray things turn around soon. At least we have our health, family and friends.
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