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I agree with most of what you said.But this is an investing...

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nippy

11,332 Posts.

719

15/07/24

12:48

Post #: 74757050
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Originally posted by Roostercogburn: ↑

Mate you keep banging on about what is happening everywhere else except Australia. The US have a completely different lending system to us, where homeowners are able to walk away and hand the property back to the lender, if they go into a negative equity situation.
This happened as we all know during the GFC where property fell by about 80% in some areas of the US. The GFC was barely a blip on the radar as far as property was concerned in Australia, but shares took a big hit. Unlike many opinions on Hot Copper, we have very conservative lending practices in this country by comparison.
We all hear about how wonderful you are at picking shares, but for most Australians making a commitment to purchase some type of property, and put a roof of their own over their head, will be the best investment they will ever make. Forced savings to meet the mortgage payments.
Most people are not disciplined enough or educated enough for the nuances of other forms of investment.

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I agree with most of what you said.

But this is an investing site.

Property is poor compared to other things done well.

If you have little to no ability and can only do property while praying that govt policies make your property go up in value then this site is not for you.

Enjoy the sunshine and family instead.
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