Hi All,
i guess as a society that has information at thier fingertips we can get sucked in to the constant monitoring of our portfolios based on the "current" stats available....i know i sometimes do
and im pretty much the buy and never sell kind of guy....it suits my passive (wife says "lazy"
) style of investing.
i guess it depends on your timeframe and your goals, but lets take 1 single property owned by my wifes grandparents.
built a 2 bedroom, 1 bath new home on a 700sqm block of dirt in glen waverly 50 years ago....**** end of the world back then.
cost them 500 pounds house and land they claim...lets say it cost double that at 1000pounds or $2000 dollars.
That house has had no work done on it, and land alone is probably pushing $550-600k today.
my crude maths says thats doubled in value about 8 times in that 50 year period.
i am sure there were a few economic hicups along the way in that 50 year period...but that one house has done alright i reckon.
it will probably continue to do so over the next 10, 20, 23, 30, 40, 50 100 years.
heres a crazy thought, if it doubles 8 times over the next 50 years it will be worth about $128,000,000 dollars....sounds impossible...... probably about as impossible as telling someone in the 1950's that there home will be worth 500 times what they paid for it in 50 years time
Late night sleepy ramble over
Cheers,