I will bet my fully paid off 2.5m home that we wont see major asset devaluation in aus.
My friend, there is an old saying, " a fool and his $ are soon parted" and it is a fool who plans to rent long term in aus. Luckily you have people like me, who will provide you with housing in your dotage with heavy tax breaks from the gov. and steady asset growth supported by a growing population who aspires to home ownership. Not to mention, being the best country in the world, we'll always have strong demand by OS people who will appreciate the opportunities this country offers.
Don’t worry, Ill put your coin to good use on overseas holidays, luxury living and also helping my kids not get caught in the rent trap.
that had nothing to do with my question but I expected as much, and ill be renting from my parents portfolio in the short term before i decide a PPOR (probably after an investment prop) makes financial sense, thanks for the offer
last post in this thread, but my lessons I have learned include:
- buy now, any price, dont analyse anything
- dont ask any questions that might disagree with mantra of point 1, you will be viewed as a heretic
- never question anyone older than you are, they are wiser by default
- realise that majority of people that enter these threads will never be willing to change opinion no matter what evidence either for or against, I understand why, I probably would be too if I had a significant position in a market
- we are different in Australia and the property market aint a market but another form of bank account.
- any mention of economics is seen as quackery
- anyone who dares rent is the scum of the earth
- if you dont like the question that is asked cite how well you did in the past as opposed to answering the question and use that as evidence as to why the question is wrong.
- as someone who spent all of uni studying and working in property and economics, I am totally against property investment and I want to rent forever... no I am not and dont obviously