dee why has boomed

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From: Mercury Psillakis


I have lived in DeeWhy all my life. 32 years of it.with my olds in kalora ave.got married 4 years ago and a morgage to boot. payed 190000 for my humble little unit back then in late 97.if i was looking earlier in the year i reckon i could have bought it for 170000.maybe just scared of a morgage i guess.yeh i suppose that fear cost me 20000.well it seems like im writing my life story.well why not i have lived hear all my life and i know the area pretty well. before i got married i went over seas early 96, house down the road from my olds was for sale for 350000 now market value for around 650000 mum said buy it i said no i want to surf the world,lets go back a little further,i did my trade at colby engineering on the corner their near the time and tide hotel started in 1986. my brother and i and my dad saved 10000 in the year which was great back then, dad said lets buy a little unit to get you both started,about 85000 back then and what a prime time to buy just before the boom of late 80swhen sydneys median price doubled in 2 years no we want to surf indoniesia we said to our dad. shit father knows best he has been around alot longer than we have. and imagine if i did buy that unit back then in 86 and imagine if i did buy that house in 96 down the road from my parents and with the unit i have now and the house i bought at Dee why beach a year and a half ago and the apartment i bought 2 years ago at rockdale . i would be surfing around the world all year round for the rest of my life!! but no im half way there. and i have learnt alot in my time and that is time ,time will tell when it is time to buy. when yeilds rise above 5to6% and vacancy rate is below 2.5% and replacement cost is above market value but if you are in it for the long term ( 10to15 years) the time to buy is now but choose carefully and dont pay to much stick to median price in the area your looking at and watch those interest rates they can do nasty things to those highly debted people so keep an eye out and an ear open. ps DeeWhy has boomed for the time being(time being in property terms lets say 4 to 5years)that goes for the rest of sydney in general.pps read jans new book ,its a little ripper. excuse my spelling what a shocker. yours truly mercury
 
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From: Dkr Dkr


Doesn't it suck when you realise that all the crap your olds were trying to shove down your throat when you were young was 100% right. Usually when you're an old yourself :)
 
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From: Terry O


Similar to me,
But I don't regret surfing Indo when I was younger and the waves were a whole lot less crowded.You can own a lot of IPs but you've got to have a life too.
KEEP SURFING!

TerryO
 
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