Well ... i definately would not by another place in Perth for at least 2 years
I sold my house late last year to a FHB and took the extra money the gov nuts gave to him(me).
I am now renting 450 per week.
Houses prices are already dropping and will continue through the next two years at least.
I put some of the profit from my properties into Gold... Was under $1000 US at the time. Return 25-30% in Aud.
I put the rest into some small cap shares... and am up 40% in just the last three months.
I dont envisage property will give me anything like those sort of returns for a long time from here.....
I am looking at buying again in around late 2012-2013. Hopefully no mortgage required.
People say that renting is dead money.... but my thoughts wether its rent to a landlord or interest to a bank its still dead money.
The only positive you usually get from paying it to a bank is for the capital growth.... Well that isnt happening for a very long time and why lose 20 to 30 percent of your net worth tied up in property whilst at the same time having no life trying to feed mortgage payments to your bank.
