The property market is about to collapse. Fintech will make brokers redundant. Banks are rife with corruption.
There’s no doubt that the world is about to change. But to say that “the sky is falling in” is in exaggeration.
The recent ABC Four Corners programme certainly put a pessimistic slant on the property market. But veteran property journalist notes that at least one of the bearish experts interviewed has continued to invest in property – despite the doomsayers.
Chancellor’s conclusion is “A downturn will happen one day, but I sense when it does there will be a buffer for many that wasn’t there last time, in the early 1990s recession.”
Despite its focus on WA, the ABC programme did not say that the Perth market is now on the way up. And respected property analyst, Pete Wargent forecasts heality growth in parts of QLD – especially the Gold Coast, Cairns and Townsville.
Brokers were in the cross hairs on the ABC programme, but some are pessimistic about mortgage broking’s future with the advent of fintech. Accredited Broker believes that technology will continue to impact upon broking -but we are far from an Uber moment.
Australians are now very used to managing their financial affairs via a mobile phone. But the mortgage broker plays a vital role in helping clients with what is often their most important investment.
There’s little doubt things are about to change, but brokers will remain vital to guiding property buyers through the labyrinth.