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Three years ago you were telling everyone to buy property. They...

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wallisd366

1,080 Posts.

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26/01/23

15:05

Post #: 65894328
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Originally posted by Skol: ↑

Nothing is going to change. Where I live property developers have been going broke for a while. Lots of debt, interest rates up, house prices declining, wages rising.

Goldbugs have been telling me for years about the future Great Depression and how I need to have a 'stack' for the coming massive economic implosion, but it's all BS. Life goes on. My daughter lives in Melbourne, and she's paying an extortionate amount for a very average house and the landlord won't fix the air-conditioning.

I could bang on all day about property, it's very interesting, but I won't bore you.

In the next year or so there should be a few bargains. High interest rates and declining prices, there'll be lots of fire sales.

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Three years ago you were telling everyone to buy property. They would be sitting on a capital loss now with a massive mortgage and increasing repayments. You're a dud.
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