OK revealing my age here, but I was a very very very YOUNG (very young) property investor in the 1990s when Adelaide house prices broke the $100,000 mark.
I think I had 2 - 3 investment properties at the time that were purchased at about $95 to $120,000. Now what is interesting is remembering the comments from the general public and the media at the time.
NO ONE can afford real estate anymore. It's too over priced.
Home buyers are not given a chance.
We have reached a limit, a bubble and prices cannot possibly go up further.
My accountant at the time even gave me instructions to not buy any more property as it cannot possibly go up further.
then off course there was a boom ...... markets went up, markets went down but would $100,000 prices ever be repeated. Not Likely.
My prediction is that the average property in Adelaide (and everywhere else) will be over $1 mil by the end of this decade. Agree or disagree?
I think I had 2 - 3 investment properties at the time that were purchased at about $95 to $120,000. Now what is interesting is remembering the comments from the general public and the media at the time.
NO ONE can afford real estate anymore. It's too over priced.
Home buyers are not given a chance.
We have reached a limit, a bubble and prices cannot possibly go up further.
My accountant at the time even gave me instructions to not buy any more property as it cannot possibly go up further.
then off course there was a boom ...... markets went up, markets went down but would $100,000 prices ever be repeated. Not Likely.
My prediction is that the average property in Adelaide (and everywhere else) will be over $1 mil by the end of this decade. Agree or disagree?