Don't underestimate the value of a car space, garage, even better.

The neigbour over the back fence has a new evap cooler on his roof. It makes a hell of a racket, much, much louder than the split aircons. Hate to think what it'd be like if it were only a few meters away.

Hi Chat2Howie,

I dont know where exactly you bought, but if you bought in the height of the WA boom, the you are basically gonna lose money whether you sell or keep it.
Dont worry though, you're not alone. Everyone who bought in other places (melb, bris etc) during the height of their respective booms are in the same boat.
Very interesting times are a comin'.

Hi Kenton.

I would suggest that you take a trip down that way and have a look if you're interested. It's only about 1.5hrs drive along the freeway from melb.
Morwell is i think no longer in decline as it was in the 80s and 90s. Traralgon, about 14km further along, is booming and there are extremely bright future prospects, in my view, due to the clean coal, coal to diesel and and other multi billion dollar projects on the horizon.
ATM, parts of Morwell are lower socio type areas while other parts are OK.
I think Traralgon is the pick of the bunch. High pop. growth there.

Any how, have a look if you want. There's value there. 

Scamp's comments should not be totally ignored.

In a falling market, a prestige type property could well kill you financially.

If you decide to keep it and rent it out, do it for the long term, because capital gains tax becomes a factor then.

Easy to say in hindsight, woulda shoulda bought or sold this or that, but the point is about the situation we are in RIGHT NOW.

Is property going to go up, down or sideways? You make your choices and wear the consequences, good or bad. That's investing. With so much at stake you must think carefully before diving in.

We can't wind the clock backwards or forwards.

Are Scamp's comments re a potential housing crash any more damaging than those who say property will keep on rising?

I would think not. Everyone is entitled to their view.

It crosses the line though, when someone with a sales pitch or service to promote, gives their view to generate business.

will that area turn into a ghost town should something happen to the local mining industry?

Dont forget possibly the strongest factor in determining house prices.
The strength of the economy.
The low prices of the early 90s coincided with high unemployment, recession etc.

1996, change of Govt to one of strong reforms/not afraid to do the hard decisions and the economy continues till recently a very strong steady run.

Now a new govt who seems too eager to please minority groups an I think not prepared to make the hard decisions needed to keep the economy strong.

A good economy can keep house prices at high levels, but a backwards economy?

Well there's a helluva long way prices can fall.