bubble trouble or not?, page-19

yes booz, we prefer facts....
have a look at this link, choose your suburb....most around melb have an average of outright ownership above 30%...no mortgage ...no problems....
homes under mortgage average around 25-30%...then there are the renters....

look at this in fashionable Armadale....44% renters...amazing...thats suburb snobbery.....and a load of property investors must own those properties....
the kids are renting there, rather than buying...
and buyers there only 22% with a mortgage....

so if there was a hiccup there...all the kids went back home...there could be some bargains....no...armadale is sooo overpriced...lots of little workers huts dressed up

btw years ago I knew this bloke...he had 6 IP's only in toorak, armadale and sth yarra...had bought them years earlier for under 100k's...all mortgages finished years ago...he was rolling in money from the rentals....those properties would be 10 times by that now....or more..

http://www.myrp.com.au/viewFreeReport.do?statevalue=VIC&showvFields=false&state=VIC&partnerId=1&scaptcha_response_field=kkb4b&actionTarget=viewFreeReport&productId=1&widget=true&viewer=partner&step=getRecommend&y=22&x=108&suburb=Armadale&street=&street_temp=&streetExt=&streetDir=&postcode=3143&email=&fsrName=&widget=true