Good post highlights the dangers of buying vacant land in new estates. Nothing new, every city at some stage has same problem. People camped out for days to buy blocks south of Perth. New big estates miles from facilities. Stories in paper of reselling them months later for $50,000 profit. Usual story, change in sentiment, hundreds of owners left holding a block of land that does not generate an income and will take years to become established, then they try and sell with hundreds on market, tears flow. People take their chances on any purchase, maybe they strike it and maybe miss. Vacant land is a crap investment, only if you want to build and stay there. Maybe the developers could offer free anti deppresants for life or therapy they will need it to live in such a place.
