BG from what I gather fro your posts you are saying that property is no longer a good investment for future generations? So what are the future generations supposed to invest in? How are they to become wealthy? I mean are you saying that if you want to become wealthy through property investment then tough luck because it is no longer a viable investment? Thousands of people are multi millionaires because of property investing. I tend to agree with UT that we will go through a slow/flat growth period over the next 5-10 yrs and then another boom. It happened here in brisbane in the 90's. Resisential Property stagnated for most of the 90's then it started doubling and some tripling in price. I bought a unit in 2003 for 150k which I thought was too expensive but it was all I could afford. Three years prior to this I could have bought the same property for 70k. I lived in it for a few years and then bought a house in a suburb a litle further north of the city than the unit and a little less desirable area for 290k in 2006. I also thought at the time that for what I got it was too much but I wanted to live close to the city. I could have a much nicer place for the same money 20km further north of where I was but I did not want that. I rented the unit originally at $185/wk and it is now at $280/wk. The unit has also doubled in value to 300k. The house I am living in has also gone up in the 3yrs I have owned it and is worth 400-420k. My pay has also increased by at least 50% since 2003. Had I not bought when I did even when I thought that it was too expensive then I would be well behind the 8 ball right now. Like UT says, its all about carefully chosen properties. ie: Location... Location... Location... P.S. I am about to purchase another property and rent the one I am currently living in. It will rent for the same amount as I pay in mortgage and rates so will be CF+. Should I sell them both now and buy them back when they are 20%,30%,40% or 50% cheaper? I think not!!!! Happy New Year!
