I'm holding CBA with zero intention of buying more, and no intention of selling. Some people don't agree with the return on invested capital theory, but I'm of that belief. My initial money in CBA is making a staggering % return p/a. I will argue they now owe me nothing and just pump out cash. The greater fool theory is only valid if you're actively trading.
As for houses in Australia - yes, they are crazy money. Places like Sydney are insane, I don't get why you'd even want to live there quite honestly. It's a big country out there, and you'll buy a very nice house for a fraction of the Syndey prices. But I can't see this housing crisis go away for the next couple/few decades. The building costs are through the roof. Immigration is through the roof. The government's own official estimates are for another 13 million people in the next 25 years. How will Australia keep up with the infrastructure for that amount of people ? That increase of population is going to put a floor under housing prices for a very long time.
CBA Price at posting:
$179.75 Sentiment: Hold Disclosure: Held
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