I have a client who was offered $420K for his Balga property that he bought for about $100K in 1998/99
BALGA - WHAT A JOKE
Anyone who thinks Perth property is not over priced as it is, is deluded
But 2 rules that apply to all investment booms
1. You can never over estimate how far people are prepared to push prices up in a boom regardless how ridiculous they get
2. All booms end and the bigger the boom the bigger the bust, and the property boom here has been big
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