Shoebonline, actually, we do have a shortage of siutable land. sydney as an example is restricted by the blue mountains to the west, national park on the south, and ocena on the east. development is going on north and places like rouse hill etc, but you are now having a distance issue, increased costs from tolls and fuel. redevelopment of inner sydney is occurring but there is always a group against it. so there is a shortage of good developable land.
as to whether I am buying, yes i am a block for 10 1 bed units which will be kept and will be cashflow positive. If I wait for it to drop, some one else will buy, there is lost opportunity.
Not sure why you are using $500,000, you can buy houses out in the west of sysdny for the $250K range.
Not as smart as that professor keen, selling inner city so he move closer to that uni out in th ewestern suburbs. being single should not be a problem to find a share room
