Kincella .. You make a very important point , the basis of the beginning of this argument ( and the initial post is not worthy of a responce ) is that the SOLE reason for the purchase is to make money . This is certainly NOT the case .
We have had many flat years in property here in this country , so the initial poster does not own a house , okey ..thats fine , he/she has three choices , Buy / Rent / Pitch a tent somewhere . In my business on many , many occassions I have sold to people who were building what they wanted , their choice , their reasons ..monetary expectations were not part of the equasion . I think we all agree , building costs wont change much , they certainly are unlikely to fall so we are talking about " Real Estate " .. which is Land , improvements and usage are a different Topic .
Now how exactly do we see the price of Land FALLING ? ..well , its because the poster told us so . Okey , this could be a little difficult when it is virtually impossible for Supply to out strip Demand , the graph is pretty well situated the other way AROUND . And even with changed government policy , things cant change quickly enough .
Granted , prices will fall in WA , at some point because the demand is driven by the mining boom .
Victoria , will certainly continue to rise and NSW has been flat for a while , slightly lower prices in outter western Sydney . Queensland will see continued growth , and Tasie with due respect doesnt matter that much .
Well happy to wish the poster luck with his/her life , however I hope they have wonderful judgement , for me Im very happy with all my property investments , they have been very good to me over many years . Speaking personally , I would always prefer to be the Landlord , but I do have some wonderful tennants who are very nice people . Whether they are doing anything for their personnal wealth by renting from me is another question altogether .
Good luck to those , who have the disclipine , judgement , and timing , to live the way the above heading mentions . For me , I think I will stick to what I know ....Very very Well .
