Another interesting observation - when I look at the current batch of property investors who are still surviving by the skin on their teeth - myself along with many other astute observers are bemused by the sheer level of optimism many of the remaining property investors still possess.
- They look at the international debt crisis and automatically think "This will be great for house prices because everyone will get sick of shares and buy houses instead"
- They look at unemployment rising and think "This will be great for house prices because interest rates will fall and everyone will buy a house"
- They look at house prices falling and think "This will be great for house prices because rental yield % will rise, making rental properties more attractive, so everyone will buy a house"
Crazy isn't it?
I guess this is testament to the depth of brainwashing embedded into these victims and the unwavering belief that property is still the best and on way to make money.
I guess reality only hits home when settlement occurs on the sale of their investment property and they realise they never actually made a cent.
