When I bought my first residential property in mid-2009, a lot of people told me properties never double in 7 years any more and that I'd have to hold it for 20 years to see may be a 30% appreciation.
All I can say is, given some recent results, that property is probably up 60-70%, in 4.5 years.
In the mean time I've had properties that's gone up 30-50% in 1 month.
As always, there'll be people who are always so willing to provide their expert opinion on the market and how it's different this time or otherwise, but I never see them make any serious money. And many people making these comments were supposedly smart guys - kids earning 6 figures at 22 years old in their first job.
All I can say is, given some recent results, that property is probably up 60-70%, in 4.5 years.
In the mean time I've had properties that's gone up 30-50% in 1 month.
As always, there'll be people who are always so willing to provide their expert opinion on the market and how it's different this time or otherwise, but I never see them make any serious money. And many people making these comments were supposedly smart guys - kids earning 6 figures at 22 years old in their first job.