property crash coming, page-35

Hawkers

Sitting there and expecting that property prices wont go down is just dangerous to your wealth.
Like I said it depends on what happens with foreign money like Chinese money which wont last forever and China apparently has backed off already. Rates in the U.S. are going up next year so rates here will follow. A crash in my book is where it goes down by 50% or more over a period of a couple of years. Im advocating a falling property market that will have a big oversupply and force the prices down quicker than expected. If you take a look at places like Gladstone and other mining areas in Queensland those properties went down by something like 30% because of mine closures already. These property prices right now are the highest in history in some parts of Australia even on a percentage basis allowing for inflation etc. If any market is at its highest ever you can expect a significant fall. Like I said there are lots of things around right now that could cause the prices to go much lower than you expect.
Like buying and selling shares how much profit do you want to make off each property before you sell it???
I hope you are not one of these people who has mortgaged their own home and gone out and bought lots of property using negative gearing and rent from the properties to pay the mortgages and have little or no reserves. That idea is just fraught with danger, I personally know people who bought 5 properties in Gladstone and surrounds just near the top of the market. Now rentals % is down and I haven't seen them for a year so I don't know what has happened.