banks setting people up to fail, page-5

  1. 3,633 Posts.
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    Well somebody is buying, Went to Perth to look at low end property in Queens park , belmont, Cannington area. 6 out of 10 properties i intended to look at were under offer, and another 2 went under offer before i got a chance to look at them , S o some body out there is buying up the low end in areas close to the city . Been looking at gold coast properties and notice that many in the low end have dropped buy around 30 % the high end more in some cases . low end in good locations with good buildings now way below replacement value with rents increasing . Can buy 3 bedroom 2 bath 3 toilet town house in good condition 13 years old for 240 000 with 350 rent , When things are cheap and the full blown bears are in full swing , the contrarian investor in me says gold coast may not be a bad place to buy, Even if things do,nt improve , may just be a nice place to retire in 10- 15 years time. Agree with the bears to some extent that high end will see softening in prices for a good while yet but the bread and butter line of lower end living is still going to be in some demand. One can take a look at places like cambodia and people still pay a good portion of there income just for a place to live Australia is no different .
 
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