Perth Property, page-30

  1. 1,995 Posts.
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    Not too sure about all your doom and gloom Moon.

    As I said, Iron prices are just returning to long term averages. Some small producers that are not profitable at these prices may go under but Perth is not going to turn into a ghost town. Just not going to happen.

    You may have done well by getting out of Perth property when you did, but that doesn't mean the world is going to end.

    I agree that some who have bought in the peak will get burnt, but that is investing for you. Same happens with shares. Perth property has gone very hard, hence my starting this discussion. But life goes on. Those waiting for the big crash and burn tend to keep waiting. GFC was interesting in this regard. I had never bought shares before the GFC but when it happened I bought loads, all my spare cash. All the bears I knew told me I was mad. I made a motsa. They had been waiting for it but didn't take advantage when it happened….

    Also I think that Perth is a fairly isolated market. As per back in early 2000's when it outpaced other markets I don't think the down turn in Perth will be followed by other capital cities. Especially not Sydney and Melbourne.
 
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