market near the top

D

Deltaberry

Everyone in the lifts and corridors at work are talking about buying properties and going to inspections. Overheard some new guy teaching his colleague how to get rich in properties by buying now.

And my cousin who has an apartment suddenly thinks he is a property expert and wants to buy again.

You know the market is near the top.
 
Deltaberry said:
Everyone in the lifts and corridors at work are talking about buying properties and going to inspections. Overheard some new guy teaching his colleague how to get rich in properties by buying now.

And my cousin who has an apartment suddenly thinks he is a property expert and wants to buy again.

You know the market is near the top.
Click to expand...

What is the consensus from the taxi drivers?

This is most important metric to ascertain the top of the market is nigh.
 
It's a bit sad.

I know when starting about 15 years ago near the top of the market I was delusional too, about how cycles worked.
For the ones just starting, the experience about to be encountered may be painful.
 
Ace in the Hole said:
It's a bit sad.

I know when starting about 15 years ago near the top of the market I was delusional too, about how cycles worked.
For the ones just starting, the experience about to be encountered may be painful.
Click to expand...

I was just hopping into my car out side of my house(in Sydney) and two women one elderly they were both talking about property. They did not look like the property type.

It's the press that plays a big part in the people coming into the boom at the latter stages imo.
 
DDDKEFather said:
I was just hopping into my car out side of my house(in Sydney) and two women one elderly they were both talking about property. They did not look like the property type.
.
Click to expand...

So what does the "property type " look like?

For all you know they may have been successful property investors for decades.

Marg
 
Not trying to be rude to anyone or location. For me it was when a person claimed that his Bankstown unit is going to be worth a million dollars in a few short years.

But who knows what may happen as a Mt Druitt home sold for a million and I believe a Doonside property sold for close to that figure recently, however those two properties was a house and not a unit.
 
Deltaberry said:
Everyone in the lifts and corridors at work are talking about buying properties and going to inspections. Overheard some new guy teaching his colleague how to get rich in properties by buying now.

And my cousin who has an apartment suddenly thinks he is a property expert and wants to buy again.

You know the market is near the top.
Click to expand...
When posters here are geared to infinity and beyond with shoe string equity on meager incomes and wondering how to go again
 
I`d say most of us who have been around a while are smart enough to see the writing on the wall 12 months ahead of the masses. Doubt many in this forum are in situations you describe.
 
Deltaberry said:
Everyone in the lifts and corridors at work are talking about buying properties and going to inspections. Overheard some new guy teaching his colleague how to get rich in properties by buying now.

And my cousin who has an apartment suddenly thinks he is a property expert and wants to buy again.

You know the market is near the top.
Click to expand...

Have to agree.....the old saying goes when the tea lady and taxi driver are giving you tips, then you know it's hit near it's peak and a correction could be coming! Well this used to be the case in the stockmarket so not sure it's the same in property lol. Doesn't worry me, just need it to last until the end of the year as I have 1 more property to sell lol.
 
I was told by someone at my work last month that she is encouraging her son, who recently started his first job in Toowoomba, to buy a new H&L in Oakey in time for the boom.
 
BayView said:
I suspect it is a high-earner who has to commute to there, and has worked out that it's cheaper to buy a spot than to shell out for the astronomical gouge which is private parking these days?
Click to expand...

It was bought by someone who lives in the building next door
 
The banks used to have all their management training centres around there. If it hadn't been sold off a little while ago, I'd think it was the RBA themselves.
 
Guys just confirming the context of this thread is explicitly Sydney only? No one has specified that anywhere... Assuming a Sydney context then yes I absolutely concur.

Other major markets are obviously at very different times/points on their property clocks right now.

Just wanted to flag this, just in case any nubes reading this are incorrectly assuming the comments made, relate to the entire Australian market as a whole :)
 
C-mac said:
Guys just confirming the context of this thread is explicitly Sydney only? No one has specified that anywhere... Assuming a Sydney context then yes I absolutely concur.

Other major markets are obviously at very different times/points on their property clocks right now.

Just wanted to flag this, just in case any nubes reading this are incorrectly assuming the comments made, relate to the entire Australian market as a whole :)
Click to expand...

You make a good point Cam. It could also be Melbourne too as the original poster is in Melbourne.
 
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