Driving this idea of missing out or being priced out is also VERY dangerous.
Housing is (and i'm just talking the residential part of the market here) essential to survival. Hence if prices rise to unaffordable levels in the short to medium term. One of two things is more than likely to happen, as proven by hundreds of years of evidence;
Incomes will rise to catch up, or prices will reduce to a level that is appropriate for the current income level.
Sector Lead previously posted on a thread to discuss negative gearing..home ownership has been about the same level for the past 30 or so years, from memory. Now if you told someone 30 years ago that they better buy now before they missed out or price out and you saw them again today..based on those statistics they probably sock you one for using that lie to them 30 yrs ago.
SL, using your stats to support my arguement does not mean I have changed my mind about Neg Gear. It does act to accentuate cycles/periods of unaffordability and is NOT needed.
