property crash coming, page-31

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hawkers

3,404 Posts.

24/08/14

10:49

Post #: 13863016
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Originally posted by All4One ↑

Hawkers

I don't think there are many investors sitting and waiting. At the very least they have their money in a bank account that is earning around 4% at the moment and when rates rise it will be more. Or they have some in accounts and some in the market like me.
What they are saying is they are waiting for the inevitable cycle to turn down and then like me they will buy property, but at the moment money in the bank can get you 4% and well the market is anybodies guess and a lot of people have their money in bank and high yield shares but still banks have pretty much topped out as well and are only yielding the dividends which is probably around 4 - 6% depending on the bank or company.
Hawkers if you don't think the Australian property market has a boom bust cycle then you haven't been around long enough to have seen several of them. I was in the building game during a couple of them. I also had property during the 1980's when interest rates hit 17% on mortgages. Lucky for me I took the option of capping my interest rates and was only paying 12%.
The cycle will turn down of that there is no doubt, and it looks like it may start in the next year or so. Im not advocating a market crash at all just the cycling down of the market but like Ive said you don't know what else will happen to push it down quicker and further.

Just my opinion mind you and Im not a professional real estate person at all. If I was I would probably be telling you to buy now at all costs which I am not.

Do your own research.

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So you agree there won't be a crash-my point exactly! So it just reinforces my point that sitting out not buying a ppor waiting for a crash is a very dangerous game-a game Massey and Scotty are playing.
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