Chapter 1: What is the main topic discussed in this episode?
It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. It's the weekend. Yes, about time. For some reason, this week actually dragged for me.
I hope that yours went a lot quicker than mine. Coming up shortly, we're going to be talking with an economist about the word optimism. And I know what you're thinking and how diametrically opposed you will think those two words economist and optimism are. So I'll explain that very shortly.
And if you're looking at property today with any open home and you've been trying to get into the market for, I don't know, for the last seven, eight, nine months, maybe longer, the worm has turned to your favour. So good luck right across the weekend to you if you're buying. And also, of course, to you, the vendor, if you're trying to sell this weekend, good luck.
It's the main centre forecast with propertybuyer.com.au. And let's have a look at your weekend weather for this Saturday morning around Australia. First, let's go to Sydney where it's a mainly fine day in the forecast, a high of 18 degrees. Melbourne, one or two showers. It's going to be coolish, 15.
Brisbane, morning showers and a high of 22 degrees and in Perth expecting a little bit of cloud but it's mainly dry and your top today expecting a high of 18 degrees. Hey, if you're celebrating a birthday today, Mark Wahlberg is turning 50 years young. It was also on this day in the history books that Bobby Kennedy was gunned down on a campaign trail in 1968.
That happened on this day less than five years after JFK, his brother, was assassinated. And on this day in 1964, David Jones released a debut single called I Can't Help Thinking About Me. Now, you're probably scratching your head thinking, I've never heard of David Jones and I've never heard of that song. Well, he decided to change his name, didn't he?
And went on to much more success changing his name from David Jones to David Bowie. Across every state, city and town of Australia, it's your weekend real estate podcast. Well, next week we have a podcast coming up all about property tax. At this time of the year, people are sifting through paperwork to get themselves organised for their tax returns.
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Chapter 2: What is the significance of optimism in economic predictions?
And if you are the organised person with every receipt and every docket accounted for, well done. If you're someone... That is completely disorganised. You know which one the tax specialist prefers.
Accountants and tax experts, I mean, they're just so patient when it comes to a client's paperwork, especially with a client who might have seven, eight, nine properties to their portfolio and their accounting is a mess. So we'll have a look at that with an expert and highlight some of the traps coming up next week.
And we'll also take a look at some of the COVID tax related expenses, among other things. So that is all coming up on our shortened week next week. Informing you on real estate. Wake up every morning to the Real Estate Podcast. We feature market updates, interviews and trends. It's your weekend real estate podcast.
Well, as you've heard in the marketplace, a lot of predictions of where the property market is likely to go over the next 12 to 18 months. And you know, it's human nature to be optimistic when it comes to property investments. It's part of the DNA of buying property is to be optimistic. And just like the FOMO, when there is plenty of optimism, magical things can happen when it comes to property.
But on the flip side, and it does feel like I should be playing some Darth Vader music here.
On the flip side, it's... The Imperial March, Darth Vader's theme, was composed by John Williams for the film The Empire Strikes Back.
Yeah, thank you, Amy. And as I was saying, the flip side isn't anywhere near as brilliant as the optimism. Actually, I don't need to play any Darth Vader music. I can cue in Capital Economics Australia and New Zealand economist Ben Udy. Good morning, Ben. That's a bit of a scary introduction.
Yeah, I have dimly been described as a property pessimist before, sir, and now certainly is a fitting description.
Yeah.
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