"Never the less there is no reason IMO why young employed/self employed dedicated, committed sound thinking people cannot invest in property in todays enviroment and do very well. These young people invariably become old people and as a result of their success in property investment over the medium to long term do not become an encumberence on the rest of Australia. "
Run that argument in Spain and you will go down in a flaming spiral dive.
Now, Spain isn't Australia true.
But, Australia is a very small economy ----------- and although we are lucky to have such wonderful resources and we have been amazingly lucky to have dodged bullets for god knows how long ---------------
we are still very very vulnerable.
More so now than ever imo.
People in Australia 'might' invest in property and do well -------- but, in these times ------- particularly if they are high geared -------- they are taking a huge risk.
Our future completely depends on the economic health of others ----------- completely - 100%
Now look how the world is. Would you think a long term, illiquid, geared investment in Australia is low risk?
