Sunfish
I find it strange that you've posted this because as you know all markets work in cycles.
People who bought in those suburbs in 2002 they've essentially bought at the peak of the boom so there was no much capital gains after that.
In fact, a price correction was to be expected so prices dropped and now they are back at their previous peak levels
Property doubles every 10 years!!! Wouldn't mind a dollar for every time I've read that here.
'Tis odd though: I've never seen an "*" and the disclaimer "But only if you buy at the bottom of the cycle."
I would be able to shout Mrs Fish a nice dinner with a dollar for every time I've read "Buy what you can, when you can fund it".
Making sweeping statements about markets and then dismissing sections of that market that do not meet expectations is disingenuous. Either the above statements are true or they are not.
If, however, you believe markets must be very carefully selected and also timed, (Does that sound like the share market?) how come, in all the years I've been here, has no newbe wanting to buy in been advised to wait for a year or so? Some brave individuals have tried to say something similar but they have all been run outa' town. ('Cept me!
)
I know you have been around a long time, so do you remember how, back when you joined, that the common wisdom here was to buy in Sydney because that's where all the cap gains are? If I or Seechange spoke of provincial cities we were laughed at. (Seech did well in Rockhampton and Townsville was just hitting it's straps and Perth not long after)
So while you dismiss the possibility of any "intelligent" investor buying Sydney in '02, that opinion was never voiced on SS. In fact the reverse was true. The "old hands" were advising the newbes to jump in. Some must still be feeling the pain.