Opinions are welcomed if constructive, even when not what we want to hear what is being said. However when it is a perennial put down of a site where property investing is the focus it is not welcome as it is destructive. However I don't dictate the terms of postings do I?
I have no doubt that any reasoning and wisened property investor realises that in reading the signs your gut must also guide you . Call it instinctive but after a while you make calls, they come to fruition and you then learn to back your judgment. Reward then reaffirms your judgment. Unlike you LE I like to read anecdotal trends based on experience coupled with data that people like you provide. It is a marketplace with human emotions which don't always match empirical data.This is not a put down but recognition of a different style of investing. I really enjoy your well thought out posts. This also reaffirms that we have differing opinions which are healthy.
My longwinded point is this. Any experienced property investor who has been watching the money made with real estate would see that those beneficiaries were being targetted by the banks to take out margin loans. A lot of those well heeled people would mix with people who had share portfolios and to the uninitiated seemed a quick way to make money. The crunch came and the SHAREMARKET and NOTHING else precipitated the problem - a lot of people borrowed to enter the sharemarket and load super - hence the top end of town would have quite a few forced sellers and then things like interest rates etc become a problem. This has happened before and will again. Medium range properties generally do not suffer this fate neither do fairly conservative investors.These people who foolishly borrowed heavily to buy shares never had problems with interest rates. Any forced sale at that end of town is more a problem with their dalliance in the ASX than inherent problems with real estate. Those properties will sell at a bargain prices and good luck to the purchaser and hopefully a lesson well learnt by the victim for next time.
Aurelius repeatedly displays incredible naivety in not seeing the full picture and really lacks credibility on this subject and I certainly would see no value in following his advice because there just ain't any - whats his point?
