my situation is simple i live in a recently well renovated 5 x2 with my family of 4 (wife included) and i have 2 rental houses both 3 x 1 and rented out.i have a combined mortgage in and around 800k with houses worth $1.15m valued last week via anz free appraisal.
now every day i turn on the computer or pick up a newspaper or turn on the radio or tv and theres a topic on property.every man and his dog has a opinion which they are entitled to, but i am over the chopping and changing the media have from its a bubble to the market is going to grow wings and fly like never before. Its simple its all speculation nobody knows whats going to happen but the crap being spun by media to sell newspapers or gain popularity ratings is getting boring.
we all know prices are high in australia compared to the rest of the world but why wouldnt they when all other countries they use to compare are coming out of a recession which destroyed certain housing markets.but its also a supply and demand market people need houses to live in be it as owners or tenants. now i live in perth and i work in the hospitality industry and day in and day out we have backpackers coming through looking for work and i mean over a 100 a week. those who get a job are straight away looking for rentals and the talk is of how to get sponsored as they dont want to return to there own country.Some of these people are being successful and they are adding to the population of this country and add to that natural methods of population growth we are increasing as a country, we have the land (or as some would say shortage of land) but need more houses.
now back to the title i am over it - i am sick of listening to the arguments and historical data and the bubble is about to burst and the dooms day theorists. we as Australians are all in the same boat you may own or may not own a property but if prices collapse so be it we are all affected. media is driving this market down with the dribble they are spinning, now if it is consistent thats one thing but this week it will be theres a bubble, nest week we have a severe house shortage.
Now i have had my Tuesday morning rant after a long weekend all have a nice day.
