Share
60,312 Posts.
lightbulb Created with Sketch. 727
clock Created with Sketch.
26/11/14
12:50
Share
Originally posted by macropunter
↑
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.
Remind me to not bother posting on here again
Expand
So you are suggesting you feel more secure with money in the bank and renting a property where you are restricted in what you can do with it and can be told to vacate in 6 weeks (periodic tenancy) with no reason? I can't see that.
As far as a PPOR is concerned even if the value falls owning it means you are living rent free, did you factor in the cost of rent in deciding to sell?
I image most would be happy if all they owned was their home and would only sell it as a last resort