mining boom collapse = house prices plummet, page-81

There is great truth in that UT,
Talking to a mate in Asia today he had a conversation with some guys in Dublin recently. They bought near the peak pre-GFC and are 50% underwater on purchase price.

Thing is they are getting Euro3,500 rent pcm on units because Google moved in to do a project. Their return is excellent and they are in for the long haul. They also cited construction is dead and so no competition for probably 5 years or more so locked into attractive returns!

OK they might have bought post-GFC at far better prices and this highlights the opportunity looming in Australia to be able to buy at prices where some of the wise property bulls in here bought years ago. It is an excellent asset class.

We look like selling at a 10% yield level on our test property and for a world chasing yield this will make a no brainer sale.

So I agree there is more to this property game than CG. This does not state that I believe property is a good investment at present in general.
CW