Inflation falls for third month in a row

[Gnome]

Prove it.

Not to pick sides but it is pretty well published about fact that most of the purchases in the Southern Suburbs, City Bowl and Atlantic Seaboard surrounds are cash.
eg.
https://businesstech.co.za/news/wea...some-of-cape-towns-most-expensive-properties/
https://www.property24.com/articles/buyers-paying-cash-in-cape-towns-affluent-suburbs/24125

That and the fact that the prices in the aforementioned areas have been climbing without stopping for breath.
I've been watching the prices for the last 3 years now because I really wanted to buy a house (which has pretty much become unaffordable).

But every time I look it is even more ridiculous than before (crappy neighborhoods like Woodstock are up to R3m+ now for a small freestanding house)

CBD and southern suburbs perhaps. Prices are dropping up the west coast.

I hardly ever leave the City and surrounds (eg. Sea Point side, Camps Bay side + City Bowl area)
So I'm not commenting about any other area (not even the Southern suburbs, I hardly ever go there)

 

[saturnz]

Prove it.

*yawn*

 

[krycor]

Living in the City in Cape Town I haven't noticed any downturn. In fact buildings are being built on every street corner. Businesses are opening up and the place is booming...

I mean the rest of the country is f#@ked but Cape Town is definitely living another reality.
Wondering if/when that will come crashing down.

I've been getting a LOT of contact on LinkedIn recently (more than usual). Again not sure what that means, but I'm not sure this recession is hitting all sectors.

Buildings being built is a bad measure especially in a CBD. Typically plans + architecture & funds to do so is set up 1-5yrs before anything noticeable happens due to red tape. Then, if you a company and want to 'use' your profit rather than pay exorbitant tax on dividends or sit on cash, new buildings are good if you know you will be around for long.

Besides.. staff can be fired, some assets written off but property can be leased till u can pull sufficient funds when exiting a country. Ask anyone in Zim about when they pulled property. Right time, little loss.. knee jerk big loss.

Jobs.. in SA right now finding a job if you skilled and bonus if you have a degree from the traditional universities with creepers growing on the facade of buildings really is not a problem. You may need to negotiate a lot vs salary but it keep in mind they in the bind and you score. Problem.. expect to do the job of 2-4 people especially in tech. Combination of skill shortage, tight budgets and just the SA way of being management heavy means now more than ever u need to work arse off.

 

[Arthur]

Falling inflation? Makes me nervous. Could this be the last breath-in before the economy expires...