Amy Lunardi

speaker

1,235 appearances 4 recordings 1 series first heard May 2020 last heard Dec 2022

Amy Lunardi’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Is Now The Best Time to Buy a House? Guest: Amy Lunardi · 3 May 2020 podcast

Specifically around right now though, I think that this is stating the obvious, but anyone who has any kind of concerns around job security or cash flows or income, they shouldn't be purchasing a property.

They should be building up their buffers and making sure they've got that confidence, not only around being able to support that loan, but even right now, things have changed where banks are doing spot checks just prior to settlement on your employment.

So previously, if you were subject to finance and say you get formal approval, that's it.

Basically, you're good to go.

But now they're checking just before settlement.

So if you've got a 90-day settlement and you lose your job just before you settle, you

obviously a big problem in itself, but you might have issues with your loan.

So that's very, very relevant.

So anyone who has confidence around their job and who has adequate classes in place, I think that now is the time to definitely start exploring it.

And because a lot of people need that time to be able to actually figure out what their cash flows are, what their goals are, do that bit of research.

The sooner you can do that, the better.

I'm not going to forecast in terms of what I think is going to be happening later in the year, because I actually think it's really dangerous for people to be forecasting because it is impossible to predict.

Now, if you look back at what happened in the last market cycle, for example, start of 2019, all of the top economists said that the market was going to continue to decline throughout 2019 between one and 10%.

And what actually happened?

We had an election.

We have APRA easing restrictions.

We had a flick of the light switch in sentiment and we had a significant increase to the point where October last year was the biggest capital growth increase in one month ever.

Nobody predicted that.

So the problem with predictions or reading too much in the media or listening to people that don't actually know what's going to happen is it can be a self-fulfilling prophecy.

So if you watch today, tonight, and it says the fire's going to fall and the market's going to drop 40%, you're going to, especially if you're a risk-averse person, you're going to put too much weighting on that and then your actions will be guided by that.

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