Thanks for a sensible response , pretty few and far between on here !
I think people are misconstruing my argument with calling for some kind of armageddon scenario.....I am not
What I am trying to say is that I made a bit on a property that went up, I think it has stopped going up and may even go down a bit (maybe a lot, I don't know) So when I look at all the possibilities it makes sense to cash out, live debt free, do something else with my capital. I don't know whats so controversial about that ?
I put a number of the people on here on "ignore" so don't really know what they have or have not said. Most of it was incoherent or talking about whats happened anyway. We all know whats happened - thats called hindsight.
My theory is pretty simple. Gains on property have been hyper-inflationary for 30 years, I don't think thats sustainable so I decided to sell. I think I outlined my arguments pretty clearly and didnt come here looking for a back slap as some condescending poster suggested , I was more looking for where I may be wrong.
As to rents - I don't see a sustained rise in the next 5 years for 2 reasons. Interest rates are v low which increases the supple of rental properties (in theory) But, more importantly, wage growth amongst professionals in Australia is non existant, with salaries going backwards for many people. Wage growth at the low end seems positive but I am not convinced we can go from having the highest wages in the world to even higher wages with a lot of immigration and rising unemployment.
