I agree with you that the market is highly priced, but dont get too caught up with the idea of low returns. The monthly rent for a two bedroom flat in London is about 1000 pounds. Cannot happen here? Rellies of mine bought a few hundred metres from the beach three years ago. The agent told them that properties so far from the beach had no chance of attracting holiday tennants. Three years later and they are renting their place for over 80% of the year without any trouble, and nett about 7% on the purchase price. Many of their tennants are from os and think rents very reasonable here.
It is interesting that the flattening Sydney market should coincide with a reduction in immigration. But dont bet on it staying low. The profits being made from the cardboard and staple shitbox sideshow by far eclipse the drug trade, and there is enormous pressure to keep things as they are in each case. And with both, the profits are derived from the debasement of humanity, and the inequality of society is broadened by their presence. Long term though, I believe that changing world demographics will make the game unsustainable.
The only difference between ourselves and Bangladeshies is our prevalence.
Remember, with house prices, it's all about population, population, population!
Billy
ps where are you crackers, you vermin slime? I have mentioned how the filth profit at the expense of society via immigration. Now do your nasty little job and get the thread wiped will you. Who else would protect the filth if not you, crackers? You revolting piece of vomit.
