There’s no doubt we are in the midst of a full blown credit crunch right now. APRA have succeeded in slowing down Sydney and Melbourne property markets, and they are not finished with the banks yet. Money is getting tight. So what is a credit crunch ? Its defined as a sudden reduction in the availability of loans from banks for investors, householders and businesses. In our business broking firm buyer enquiry is down 45% across the board – and the few deals we have, we struggle to keep together. Why ? Because money is harder to come by. We are a debt driven economy, so any changes to access has dramatic affects on everyone and everything. Its time to find some shelter and prepare to batten down the hatches, and ride out the storm. That’s my rant for the day.