Any property gurus?

[stevz]

Originally Posted by XB GS 351 Coupe

Does not make it Dooms Day though, if I own my house and land why would I care about the rest?? I get where you are coming from, and what you are saying, but there is nothing we as an individual can do about it, we just have to work with what we have and move on.

No good being all Dooms Day, we are screwed, the world will end, why not just be happy with what we have and look after our own personal interests, could not care less about any depression, recession or banks really, nothing i can change I just have to work with it and move on to look after me and enjoy the life I have.

Going around and making investment desicions while completely ignoring the factors you mention above is downright dangerous and could amount to financial suicide.

Originally Posted by XB GS 351 Coupe

They said the same thing in the 60's 70's 80's etc etc I remember my parents looking at a house in the early 80's right on the water in the eastern suburbs was $165K at the time, and everyone said that was crazy, as they ended up buying a new house in the suburbs on a 1/4 acre block for around 50K.

The house at the beach would now be worth millions, the house in the burbs sold for about half a million 10 years ago.

I payed 165K for a three bedder in western Sydney, my parents thought I was mad paying that much, sold 10 years later for 379K.

And it keeps going, in 30 years time everyone will be looking back at 2013 thinking jeez wish I bought my house when they were that cheap, when you could still buy a house for under a million dollars.

Because the economic conditions we are experiencing now are unprecedented and we cannot look at the past as a reliable indication for the future. These are completely different times we are in.