This is the first day, I had read the thread on property and it seems to be dominated by negative people, who I suspect, don't own a property portfolio or have not done the research or gained the knowledge about how to make money investing in property - just as many people do in shares.
Why is there some sort of ignorant please in predicting that interest rates are going to hit 17 per cent or house prices are going to crash?
They may, but I doubt it. Share market has crashed 55 per cent since its peak. Median priced property in capital citis hasn't.
In fact one property I purchased and sold after five years gained in value $2,200 a week every week for five years.
Property purchased by my parents in 1970 for $15,000 is today worth close to $2 million.
Prices go up, and they go down, but property is nowhere near as volatile as shares.
Banks will lend you 90 per cent of the value of a property but only 70 per cent or less, usually 40 per cent, on the value of shares - what does that tell you about what banks think of shares and property?
People who educate themselves and learn how to invest in property will make a lot of money over time, and sometimes in a very short time.
As Henry Ford, I think, once said: One good property investment is worth a lifetime of toil.
Invest and over time make money, but please stop this negative, wishful thinking, or desperate hoping, that property prices will crash.
Study anone who is truly wealthy, and decide for yourself, what is the base underpinning their wealth.
The owner of McDonalds once asked Harvard students if anyone knew how he made his money.
They answered easy, making hamburgers. No he replied. I own the best real estate in every capital city in the world.
