why property is now riskier than shares, page-16

Just keep waiting Makybe...

But will you have the guts to buy if property prices do tumble, knowing they could fall further? If they are to pull back significantly, doom and gloom will abound, and it WILL be a bad time to buy UNTIL the bottom is reached. How confident are you of hitting that bottom? How confident are you that you will have the guts to pull the trigger at such a time given how scared you are now and that you're partnered with someone with even more fear?

I have a friend who wanted to buy a house when I bought my first a few years ago. He was trembling at the thought and decided not to. He has been looking ever since, waiting for a magical pull back, and in that time has seen the houses he is interested in go up by well over $100k. He always says how 'lucky' I was that I bought when I did, but there was no luck involved, I just didn't treat the property market like a spec share and bit the bullet.

I was ready to buy, opinions were varied, and I have always been the type that would rather have made a mistake having a crack than make a mistake watching an opportunity go by.