You know the thing that keeps coming up in my life is the phrase "everything old is new again."
There is nothing new under the sun and this guy longdong is proving that.
Over the decades I have seen again and again and again the forecasts that things have changed, interest rates will crush the property market, people just can't afford .... yaddah yaddah yaddah.
DO you know the thing that has remained consistent? The consistent thing, the unchanging thing is that property goes up. It does. You can spew your crap all you want but the cycle remains the same and will remain the same well after you and I are dead.
The amount of land remains the same, the amount of people keeps increasing. Simple.
On top of that we have divorces (one roof becomes two), children leaving home, immigration and so on.
When the Normans invaded England they created the Doomsday book. In that book they registered all properties and placed a value on this properties. Since that time English property has averaged 10% growth pa.
It has had flat bits, it has had sharp rises and it has small pullbacks but the march ever upwards continues.
Why?
The amount of land remains the same, the amount of people keeps increasing. Simple.
If you invest only in share markets, if you invest only in cash or if you invest only in property then you are not doing yourself any favours.
Keep an open mind and you always do better in life.
