The only thing is there are a lot out there that sell the hype. We had a tradie doing some work that was extremely worried he would lose his home after receiving his tax bill. As his wife had worked in a realtor's office before having their child I asked him who suggested he buy the overpriced property he had bought for 'tax purposes'. I had warned a lot of people when I saw the signs that coal was dropping. No one listened. A builder up the road rang me last year and said you were the only honest one, he's been here for over 30 years and had never seen it like that before.
I asked my husband to take a drive down a road a couple of weeks ago. Two years ago I'd had a dream of a woman telling me she was going to lose $70k on her property. We went past her property and yes 2 years later there is a for sale sign on it. And yes, she's lost money.
There's still property here going for exuberant prices that are not worth it. I read people spruiking property telling people to buy buy buy, the people they are telling have no money, they can't survive on $400k mortgages but these people still telling them property will continue to rise.
You know all I've been reading in our community forum lately, 'does anyone know a good tax accountant.' Says it all.
