Telling me property will be cheaper in 5 years time and property is near its peak is vastly different from telling me it will devalue by 60% and we are headed towards depression. I happen to agree now isnt the time to be purchasing property and is near its peak. But often after a property bubble, its value will eaten away by inflation rather than a huge and sudden plunge in price. Apartments are a different story, they are struggling, but many don’t have land content. It’s the land that rises in value the most. Im not saying property prices wont plummet, but history suggests its unlikely. Ill keep an eye out though. I appreciate the debate on the economics, its wise to consider all possibilities and have a plan for it. I guess the main thing is not to over extend yourself and to use gained equity wisely.
