I agree with the sentiments expressed mrlunoon about the value of owning a home, nothing unfortunately in life is a sure bet however.
If you think you are immune to getting screwed financially by loading up on debt and a few investment properties, then I would suggest this is delusional. There is always risk. You can buy a house right now and it might be worth 20% less by the end of the year if China's economy stalls.
To say that China will always save our property from falling is risky.
You have the double whammy of: if their GDP growth does collapse, base metals and bulk commodities and Australia's prosperity will follow down the toilet. Investment in real estate by Chinese will evaporate. The belief that Australia is different and a great place to invest will dissolve, just like it did in the USA.
But it is not worth trying to time these things when family is involved, you have to take a leap of faith at some stage. I think it pays to be aware that it is highly likely the party will be over sooner rather than later, and that when looking at what your budget is, better to calculate it based on a one income household to provide for someone losing their job long term.
I say this becaused the stress of trying to pay off a giant two income mortgage may be more damaging to your family than not owning your own home at all.
Whatever happens, I do hope that something causes these people from overseas buying the properties that are meant to be places of shelter and homes for the citizens and residents of this country, to get the out of here.
Plenty who invested at a higher exchange rate will already be losing. I hope the dollar continues to collapse and fries these investments even further. I hope China GDP collapses into negative territory. This will bring the land and houses back to the people who live and work in our country.
