years ago the banks would not lend on factories
unless YOU owned the business and self-occupied
this put the speculators out of business
but it was great for business owners as it made warehouses and factories affordable with keen backing
the investors, if they wanted to sell, could virtually only sell to owner occupants
methinks the same thing will happen to residential
the prices will drop to meet the genuine occupier
it staggers me that after the party is well and truly over, property bulls, blind to economic realities of returns on capital etc, are still claiming to have made great deals by buying negatively geared houses on returns of 2-3% net
not real, never really was
plenty made heaps out of it as they do in all bubbles
the saying that you make your profit when you buy only used to be true
the best property today is also for the owner operator, in the form of dairy (and some other selected) farms
the milk price is the best it has ever been
as long as you have water, you will cream it!
if you do not like the hours, you can sharefarm it
and keep your eye on the ball
cheers
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