don't waste time. buy buy!, page-11

Great time to sell.

I love hearing all this weekend barbecue banter about how much people's homes have gone up and how rich everyone is.

In my mind, the only doing well out of this property caper are the one's who have been in for a long time and have built up a large amount of equity through hard work and sacrifice.

Its these people that are now juggling their equity and taking on manageable debt to spread out into several properties and making money off the poor suckers taking on 350-450k first mortgages.

These long term property holders have also seen their super fund returns lowered from the GFC and no longer trust the sharemarkets after the greedy wall street bankers took us all for a ride in 2008.

I cant help think this latest surge in home prices has alot to with the baby-boomers no longer trusting the super funds and stockmarkets and are throwing their last chance money into local property. At least you can drive up to the front door to check its still there!

The people who aren't winning as i mentioned earlier are you people now taking on massive mortgages because your elders have made a stinkin fortune off the Great Australian Dream.

This doesn't mean you'll do the same. Your now paying way too much for that security of owning your own home. They didn't have to take on so much debt to get where they are now, so why should we.

Its the "Great Australian Delusion".