Menta great post. Follows my thinking perfectly. Property has become a sharemarket some suburbs just increasing by 30% for far to many conseritive years. People lose their fundemental thinking. People are happy to live in a suburb atm because it has a medium house price of 1mil. Even thou 5 or 10 minutes drive up the road there is houses going for 300k with the same infustructure just not as close to the city.
people say to me all the time. why do you invest in outer suburbs and country when inner city is going up way faster. My philisophy is to buy anything under 300k walking distance to a beach. In a market with an ageing population it makes sense to me people will ditch their inner city million dollar mansion with half million dollar mortages to retire by the water mortage free!
