the great housing debate, my story..., page-72

I deal with smart young people everyday , and see them create some really great projects . For those who dont know , Im new house and land so its pretty much always on the fringes .

Personally , I was brought up in Beaumaris a home that my family owned for 44 years , this was a fringe when I was a kid , the roads were unmade , and the parks were not great but we loved it , It was a great place to grow up ( Melbourne Bayside 20k CBD ) ,these days in Beaui , going in Now , you would want to be a multi - millionaire .

I brought my first house / flat in Cheltenham , It was what I could afford at the time , It cost 46.5k 25 years ago , I had a 26 k morgage , which seemed incredible . I moved further away from CBD , to start buying houses I could afford , I lived in Seaford , Frankston for many years ( 14 years ) . My business being new homes and land , I built and sold many over the last 15 years .

I know have a lovely house , pretty much brand new ..but its 35 k from CBD ..So what ? do I have some right to be closer in ? of course not . I cant afford Beaumaris now ..Bad luck for me , thats how it is .

To think that there is some " god given right " to a particular location is simply crazy , you buy what you can afford and try and build your equity over time ..house prices will flatten for sure , but you wont see drastic drops , certainly not in Melbourne , purchase what you can afford , but dont WISH for a drop that will never happen .

And never try to " time " a property cycle , like the example I give of my friend selling out of Brighton in 2005 ..he will NEVER live there again .

I have beautiful packages in Cranbourne East , way beyond what I could have considered at age 25 years for under 380 k ( turn key ) ..Get yourself into the market and build a position from there .

I do a lot of share trading also , but I have seen so many fall victim of themselves over the years , be very very careful when considering share trading stategies , sometimes forums like this one will make your outcomes worse over time , due to over confidence .

I use property as the basis for every project I undertake ..All the very best of luck ..

By the way to those Bears who called March 31 st ( as a definite .. more like a statement ) ..Its nearly the 12 / 3 / 2010 , just keep that in mind when bothering to read property forum on hotcopper .

Good luck to those who deserve some luck .