Roundup of 2007
There's been some major changes and impacts in the South African Property market over the last 12 months. We've seen the rise and fall of some of South Africa's supposed fraudulent bond originators especially the story of Rudco Finance which the SA Property Team followed extremely closely. I just want to say though, that it's great to finally see South Africans standing up for their finances. It seems gone the days where fraudsters would just walk over us. A good positive to take into 2008.
Of course, who could forget the introduction of South Africa's National Credit Act. This amazing introduction by the government and financial lending boards has brought a stop to the reckless lending of credit. There was a stage when South Africans were in such financial debt, and didn't realise it. Well, we do know. And financing your property is no longer as easy as filling in a form.