HiIn the 1980s there was a period where property in Sydney felt...

Hi

In the 1980s there was a period where property in Sydney felt like it was like the old gold rush days. It only took a bit of financial fortitude and not too much intellect to make significant gains. There were many scenes of people at auctions going crazy to tie down the property of their dream for fear that prices would get away from them.

I haven't seen those days since but I recall in about 1998 or so there was a similar feeling going around but nowhere near the intensity.

Of course, as a property owner there is part of one's self that is pleased when this happens but it really is not a healthy long term situation.

There is no doubt that the ownership or 'anti - ownership 'is a real issue in Australia and probably will be for a long time. With shares we either like them or don't want to know them but we don't seem to have the same passions to hope for crashes or booms and the need to convince others that we are 'right '.

Property seems to raise passions in this country & that is quite interesting and possibly in some way unique to us.

I have no doubt that purchasing long term and selecting quality property is a great strategy. Having said that, it really has to be part of an overall balanced strategy and part of a balanced life.

I certainly won't be waiting for the next property 'rush ' but if it comes, fine. If not, property is a great investment but I hope that the ownership or not of it defines who I am and my worth as a person.

If the mid term growth is around the level of inflation or so, no problem. I can't see the 'rush 'days of the past returning unless there is some underlying change in attitudes or economic factors.

all the best