I have heard a lot of anecdotal evidence suggesting that people are losing thousands when trying to resell apartments in the CBD/Docklands area in Melbourne.
Does anyone actually know anyone who has actually been through this drama.
Also I was wondering whether anyone knows anyone who has lost monay in areas such as St Kilda, South yarra, Richmond, Elwood, Prahran, Nth Melbourne etc. I feel these areas (althoug IPs being negaitive geared) have made people enormous amounts of equity and I see no reason why they won’t continue to – just a bit slower than the last 2-3 years.
Thoughts invited.
Petters
Someone must have a story about this – you hear of it all the time!
Or maybe it’s not true?? Just more information designed to sell newspapers??
Maybe another conspiracy theory raises it’s head??
Petters
Michael,
Your points are true and I have probably been a little impatient.
Thanks for the feedback – I tried to research the sales prices but it is hard to track when you have 2 or more sales prior to settlement sometimes.
What i am learning is that you can’t rely on anything you read in papers – have you seen the Headlines in The Herald Sun today. “Experts tip house prices to fall”
It got me to buy the SUN for the first time in 4 weeks – so it worked.
The article referred to the Econmist Magazine which I promptly purchased also. Their is the potential for a slump – but when is’nt there. The only way we ill know is to look back in 3 years and see what actually happened.
Petters
Isn’t the word round the camp fire that some always knows someone who has been burnt by these deals???
If anyone has been roasting marshmellows with theses folks let us all in on the story…
…Beware of the dreamtakers…
Hi there,
What is the motivation for these people to say that property prices are slowing or falling or whatever else they say?
Interest rates are still very low, FHOG is still applicable, so why would anyone want to take the confidence of buyers/investors away and turn them to other investing sources?
What’s happening with shares? Perhaps they need a cash injection…??? MAJOR help needed there, so how do they promote shares/stocks etc? By trying to make investors loose confidence in their current investing stratergies.
Professional investors know that you can make money no matter what market you invest your money in at any time. Risk mitigation and diversification.
The motives to shake the housing industry is WHAT??? Ask yourselves.
I could be way off mark, but as Michael said, there are many people at this site making money and will continue to do so no matter what cycle the property machine goes into.
It all goes in cycles. Hop on at any time [
]Cheers
Sooshie []“Giving is a Blessing, receiving is the bonus”
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