re: re:depressed property market
Copydog, some of your comments amaze me, I'm sure you're not serious about this P/E business in respect to property. Anyway, you've ignored most of my pertinent points so we'll leave it there I think.
bbm, I don't necessarily think these areas are too expensive from long-term perspecives, but I guess I'm a supporter of the 'edge' theory, especially in periods of growth, where you concentrate on the areas closest to the city that have not yet been fully-developed, renovated, building of two units etc. Those areas previously mentioned have pretty much been through that, so you are really not going to get best value for buck and as greater potential for growth. Of course, that's generalising. Another theory I have, is in times of boom, you downgrade, and in weak periods you upgrade as the price differential between the two increases and reduces respectively. Again you have to take the long-term approach. I think if interest rates rise, then there will be some decent buys around, but not the extent that some are forecasting. I still think you need to do your research and a bit of hard work to get the best result. I have always believed that unless you are very fortunate, money just doesn't come to you without any work.
Some won't agree with me, I know, but again that's the approach I take, and really it will only be 30 years down the track, can you look back and say, gee I did the right thing, or crikey why the hell did I do that.
