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Otton believes property investors to reassess strategies in the wake of queensland floods

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Otton believes property investors to reassess strategies in the wake of queensland floods

  1. 1. Otton Believes Property Investors to Reassess Strategies in the Wake ofQueensland FloodsThe devastating floods in Queensland continue to bring heartache to thousands of people as thetrue extent of the loss of life and property is revealed. It has also led those involved in propertyinvesting to re-evaluate their purchase suitability criteria.Sydney, Australia (Vocus/PRWEB)January 19, 2011 -- Australia has managed to stay out of recessionthroughout years of drought and challenging economic times. The Queensland floods of 2011, however, areexpected to add immense pressure to the Australian economy, affecting diverse business sectors, includingproperty investing.In a recent interview, Australian property investing expert, Rick Otton, outlined the inflationary pressures thatwill be direct consequences of the Queensland floods.“The affect of the floods on Australia’s agricultural and transport sectors will be seen on supermarket shelvesimmediately.” says Mr Otton. “But the cost to the whole economy in terms of rebuilding devastatedcommunities will not be felt until the second half of the year.”He went on to explain that the emotional cost of the floods will dramatically affect the property sector, withmany people wanting to divest themselves of their properties quickly. However, buyers will be very hesitant toenter a troubled market, with increased insurance costs and, potentially, interest rates.“The Australian and Queensland governments will be injecting a huge amount of funds into the rebuilding ofwhole communities, and this alone is inflationary.” explained Otton. “The Reserve Bank will see the immediateincrease in spending as a post-disaster ‘spike’, but the ongoing injection of funds will put pressure on homeloan interest rates in the second half of 2011.”Evaluation Time For Property InvestingProperty investors need to re-evaluate their strategies for the year ahead, taking into account the economicpressures that will come to bear on the Australian economy. The Queensland floods have affected:* Mining contractors - as projects have been halted during heavy rain and flooding* Mines - coal mines have been closed, with some suffering massive loss of plant and equipment. Others havebeen unable to get their coal to ports.* Rail and Ports - rail lines have been damaged and ports closed causing coal to be stockpiled.* Sugar Industry - flood damaged crops have resulted in increased imports from Brazil* Summer clothing and lifestyle - have all suffered as a result of the downturn in tourism due to inaccessibleholiday destinations.* Environment - the fragile corals of the Great Barrier Reef are under threat from the flushing of toxic sedimentinto their habitatThe Rick Otton property investing approach has always been considered innovative, but in uncertain times suchas these, the more traditional ‘experts’ in the real estate industry will be flying blind. Because they have beenoperating in a relatively stable property environment, most do not have the ability to be flexible in theirPRWeb ebooks - Another online visibility tool from PRWeb
  2. 2. thinking.Visit his website to learn more about Rick Otton property investing.About:About Rick OttonRick Otton is an original pioneer of creative property strategies. He is founder and CEO of We Buy Houses, aleading property enterprise which operates in the property markets of the United Kingdom, New Zealand, USAand Australia.In 1991 he uncovered an innovative strategy of buying and selling real estate and went on to amass a portfolioof 76 properties in his first twelve months of active investing.Since 2001, Rick has taught over 30,000 students to buy, sell and trade residential property without banks, debtor risk. By employing these same strategies many of Rick’s students have made over a million dollars a year incash and equity, using little or none of their own money, year after year.He has appeared in the 2004 ABC documentary ‘Reality Bites’ and on Today Tonight, Insight and A CurrentAffair. In October 2007 Rick gave a way a house on national TV during 2 episodes of Channel 9’s HotProperty.Rick Otton has also been featured in Australian Property Investor, Lifestyle Trader Magazines and in the books:The Secrets of Property Millionaires Exposed!, Ideas: Original Perspectives On Life and Business FromLeading Thinkers, Think and Grow Rich in Property, Insider Property Secrets, and Walking With The Wise.### Page 2/3If you have any questions regarding information in these press releases please contact the company listed in the press release. Our complete disclaimerappears here - PRWeb ebooks - Another online visibility tool from PRWeb
  3. 3. Contact InformationRick OttonRickOtton.comhttp://www.rickotton.com1300 888 450Online Web 2.0 VersionYou can read the online version of this press release here. Page 3/3If you have any questions regarding information in these press releases please contact the company listed in the press release. Our complete disclaimerappears here - PRWeb ebooks - Another online visibility tool from PRWeb

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