Surely speculators can find other markets to push up the value beyond fair value than housing, there are 100's of markets you can trade...well thats what I do anyway.
Its extremely selfish in my books.
I know many struggling friends who cant get in on the property market anymore near their jobs or family and are struggling to pay the rent.
I invest in art gold and a lot of other markets aswell as getting sophisticated offers for companies almost daily and make ample cash, I just think it sad the mentality of Australians with housing and can see this market coming tumbling down, with those at the bottom end being the first to lose their shirts.
Do you think its fair that a massive number of the country are priced out of the market because of speculators looking for capital gains?
"Now can you find the suburb that currently has a rental yield of almost 10%, and where the median house price has risen by almost 20% since December 2007"
Nope and it doesnt interest me, i have no intent to buy investment property and have the tax payer pitch in 4 billion a year in negative gearing tax losse.
What city for interest sake, i pity the renters there and look forward to seeing the crime statistice if you can find them for me.
