just proves that there will be people who try to push irrational views that need to be challenged. what pennyo was trying to do is create some false sense of reality for himself. As indicated if the dude sold his property with the view to take advantage of lower prices, he is going to be very disappoimted once stamp duty and selling/buying costs are reflected. The $100,000 300m2 house thing really raised my doubts of the vaildity of his point of view.
Who knows, Pennyo may be Professor Keene trying to whip some support.
But again guys, not adovcating 30% rises in the futre nor 40% falls. May expectation is that property prices will fall slightly, and this will depend on how serve the impact of the financial crisis has on the economy and there will be some good buying opportunities arising from those who irrespective of the economic conditions, over commited.
blocks of Land will be effected the most and there will be some reduced pressure from building prices, so it may be an opportunity to build and hold until things turn around. by building you reduce the cost and increase your return and if you can fix the interest rate to take advantage of the expected lower rates you will be able to make a good return.
