UT .. there were some good times to get into residential property, sure.
but.. The property market right now - i.e. In bubble territory and looking shaky - it's a different kettle of fish. I'd rather have money working for me elsewhere right now - in the bank or maybe some prime commercial property (where I can at least get a 6% net return) ?
The average renter - renting a $600,000 Melbourne house right now (for $450pw) is better off remaining a tenant (vs a landlord), by about $30,000 per annum - and that's tax free !
or about $50,000 better off per annum - before tax.
Plus house prices are going nowhere - so why jump in right now into boiling water ?
