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Peak Debt
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@peak-debt
Join Date: 2010
Post Count: 4
November 26, 2010 - 12:08 pm
Limited Recourse wrote:
Hi DWOLF;
I'm not a blue sky property investor. Times are tough. The last 20 years has been easy to make money in the property market. The next 10 years will sort out the wannabees from the real investors. The reason why I buy pencils with erasors on the end is it helps when I make a boo boo I call it my investment education fund. I've tipped at least $300,000 into that fund over the years. The key is not to make the same mistake again but to learn from it.
Regards NR
Have you made any mistakes during this gfc
And what were the lessons
My biggest mistake was underestimating govt willingness to prop up the bubble
Peak Debt
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@peak-debt
Join Date: 2010
Post Count: 4
November 26, 2010 - 12:03 pm
Ben K wrote:
This is a great thread, good debate makes for interesting reading.
Agree
Good thread
Peak Debt
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@peak-debt
Join Date: 2010
Post Count: 4
September 17, 2010 - 8:45 am
Wynyard wrote:
I've just started looking, and it seems we would both need to work for 30+years to buy a tiny flat in greater-Melbourne
Is anyone else here in a similar situation?
Sadly this is another one of the negative affects of the property bubble.
Most households need both adults working to afford even the most basic home.
It used to be achieveable on single income.
My advice is rent (it makes more economic sense) and wait for this bubbles inevitable pop!
Peak Debt
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@peak-debt
Join Date: 2010
Post Count: 4
September 17, 2010 - 8:39 am
The shortage is an invention of the banks and real estate vested interests
If you look at the data between the 2000 and 2006 census, the number of houses increased by a greater percentage than the number of people.