the 3 p's of real estate have gone out the window Position Position Position. Someone mentioned pakenham in Melbourne well 50 km out of town gees what do you expect. Like anywhere close to city close to public transport, good schools and near beach have always been a good formula, and I have heard all of these arguments many times before, in the 80's and 90's with falling prices but like always wages go up and suddenly that $600,000 house is 6.5 years wages not 11 years, it moves in cycles like it has for ever, you guys are just reinventing the wheel so what if it drop 20% the housing cycle goes in 7 to 8 year cycles if you hold for that long good money will be made. And what you forget is a lot need the tax deduction why not let the govt pay for your investment.
