Thecook I do not remember any of the regular property investors on here saying that.
What we did say was property goes in cycles. As to Perth sure there is pain but look at it a bit closer.
People who have had a ppor for more than 5 years are way ahead on renting
Investors that had properties prior to 2005 have seen a 100% rise and now a 10% fall
First home buyers are facing no equity and a loan greater than what they could sell property for, but cheap interest loans
Really only a few groups in trouble
Inner city apartments bought in last 10 years or off plan and recently completed.
Over committed and now have to sell.
I am surprised a lot of stuff has not fallen more. There is a lot of overpriced poorly located property that should drop a lot more. Harrisdale springs to mind insane prices for dustbowl eastern suburb.
I am not buying because I see a better place to park money for now but for younger more motivated people there will be good opportunities in the coming years. You make your money when you buy not when you sell.
