I disagree about the Perth market slowing. Everyone is talking about the “bubble bursting” in the media over here in the wild west, but honesty if anything the market will just flatten.

This wont happen for a long time. Perth has a lot going for it. Its closer to Asia and the pacific to attract immigration, the resources boom as we know is fueling the boom. Countries are lining up for its resources which is creating a fantastic economy. Further to this, 800 people are moving to Perth a week! Effectively, the equivalent of a population of a highschool is moving to WA! Thats amazing stuff.

If you know Perth, you also will know how well the infrastructure is well set up for this kind of housing boom. I am originally from South Australia and I laugh when Perth citizens complain of traffic: its nothing! Comuting from Mount Lawley to Maddington for work everyday is a 20 minute drive (17ks) in peak hour – doing the speed limit as well i might add, naturally!

The city is young and cultured, and is surrounded by many trees and the swan river. The public transport system is excellent, with the constantly delayed but ever building mandurah train line due in 2007. I predict AT LEAST another 3 years before the boom slows. I know there will be some skeptics, particularly sydney and nsw investors.

I work in real estate in WA, and we have a database of over 10,000 people all looking for property in the area. The demand for land is incredible! you have to see it to believe it.

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In saying that, i am increasingly concerned about credit card debt in australia and the lack of baby boomers looking to invest in their retirement. We tell our clients everyday, all you need is 6 properties in 10 years and you can retire with more money than you will ever need. Its that simple, but they say “no, i cant afford to invest”. You cant afford not to, its that simple.

When the pension is gone, and their employer contributed super dries up in 10 years, 70 year old baby boomers will have to go back to work which is a terrible, terrible shame. I am bracing myself for the massive economic change we will no doubt experience and it will take something radical from the government to change the course for the boomers.

rant over, how is that for a first post lol.

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