Good old Bruce must be the last Real estate buyer left. Good to see someone still buying.
The rest of us know if we wait, prices will be considerably cheaper.
So, the way to make money out of Real Estate atm is to stay out of Real Estate if you can. Those who are caught are screwed.
The whole RE boom has been a coordinated ramping by RE agents, Banks, newspapers selling advertising, TV stations for the same reason and greedy house owners.
We are told that there's no inflation. Therefore, house values should be the same as they were five years ago and in a couple more years they will. The fact that they have doubled and are now halving is interesting.
Cheap money which should have been directed to business, farmers, production and infrastructure was, through the lazy banks lending policies, gambled in housing. Instead of building our National assets, we built fat and overheads.
Fortunately the gamblers are now loosing their money and the gains they got distorting the RE market. There are no more buyers left with money. The greatest fool has gone.
Unlike the share market where values are placed daily on shares, the RE market is distorted by bull. If sellers could really see how far the market has fallen there would be mass panic.
