"some of those smart kids have doubled and tripled their 10-15% deposits since then."
It's all an illusion, unless you have multiple properties or you trade down and actually convert someone else's debt into cash of your own. A Ponzi scheme. Get in early you make money. Be there at the end you get ruined.
I sold out everything except the house I live in and 1 block of land in a good location.
I don't care if property prices in Australia drop 30,40,50 or 80%.
I'll still have a roof over my head and rates will be cheaper.
And normal people will be able to afford a normal house again.
Bring it on.
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