My father in law bought a holiday house in lake mac north of sydney during a boom in 1982 for 115k water views. There was a crash of sorts and in 12 months the place was valued at 52k. He thought he had done a terrible thing and lost a lot of money. Turns out it has been one of his best investments, but he could have bought two if he waited a year.
If he sells right now it would lock in that good return, however if the market does crash, and it's approx 900k value falls to say 600k then even with tax, a bank account probably would rival that outcome over 29 years but only guessing there.
We have had property crashes before, every 12 years I remember reading, so why would australia be in any more trouble this time if one happens? Maybe the hilarious debt levels are so much higher? We are a country full of greedy morons with fruitbar politicians feeding the greed. The dutch disease is alive and well
