penny, page-18

guys, I dont think we a 'picking' on penny. it is just that he made assertions such as the 300m2 $100,000 house which i found unrealistic. penny used the $100,000 to $400,000 increase to justify a view which was not sustainable.

But I dont think they will find the perfect house in the perfect suburb for the 40% discount they believe will occur. At the moment and possible for the next few years Penny and many other first home buyers will not need to rush to get anything as prices will stabilise if not drop a little to reflect the slow demand given the uncertainty in the economy. there will be so called bargins, but as some one said there is always a reason why it is a bargin ie crap location, something structrually wrong etc and that the difference bewteen a bargin and good value.