I remember my dad saying, when he bought the family home around 1975 that he was almost going to hold off for a couple of years for the "exorbitant" prices to soften a bit. Except he had a family to house and couldn't wait and would just have to suck it up and do what ever it took to make it happen and it did. Wasn't easy for him, and mum had to get part time work to help out.
So what was that exorbitant amount he paid for a house a distant 5k from Brisbane city? $25000.
That was nearly 50 years ago. They're still there today and its probably worth a little more than $25000 today. I hear some suggesting that the last 40 years has been all bubble, so are we going back to 1982 prices?
I think everything overshoots and undershoots, but over time it all just keeps on marching on and my dad is glad he didn't wait.
