Not doing due diligence on a property or any investment is one thing but you clearly stated, that you were talking about people who blindly buy just for a tax break.
Nobody would buy purely for a tax break , period. And Noone would be convinced to buy anything purely on a tax break.
The banks when lending generally ensure a good margin of safety.
You say you know "plenty" of people that have bought properties purely on the illusion of tax breaks - are you making this up as I would know plenty of people that have bought properties but none under the illusion that you propose.
Getting tax breaks on its own does not exist, so I don't see how you can make a comment where this reality doesn't exist?
What area went backwards in property over 10 years?
Did you sell in that time, if not how do you know property went backwards over the period of a decade?
Are you making this up to serve your argument?
I am rather sceptical of some of your comments unless you can support them?
