Wonthaggi investment

[Shunt]

Greedy people? You mean investors who probably worked hard to earn their money and are trying to provide a future for themselves and their family by investing in residential property? Maybe uninformed, unfortunate but I am not sure you should brand them all as greedy, particularly on a forum based solely on investing in property.

Also, owners don't pump up price, the market determines the price. The market being made up of willing buyers and willing sellers. It takes two to tango.

Not all people decided to kick out long term tenants and increase the rent....

All I can say is I hope it was worth it for those that did.

 

[Redwood]

Just as many derros on the island mate. I'm pretty sure the island has one of the bigger unemployment rates around that area.

I'm guessing All the greedy people who owned rentals during desal and pumped up prices and pushed many locals out who couldn't afford the rent are now feeling the pinch.....what goes around comes around.

Not sure I get this post, I agree there are a few derros on the island, rentals on the island did not increase signifciant during the desale build it was more San Remo and Kilcunda to Wonthaggi, the Island itself was fairly steady, did not see anyone pumping rents up TBH, however, I can say Island locals were getting sick of people asking for wine instead of beer at the local (the Desal owner is French and WE paid heaps for a significant number of French engineers to come here for a holiday). After all would you pay $35 for a meal at San Remo? only a desal worker would, and pub prices were adjusted accordingly

 

[8Faye]

As investors we are also speculators, yes when a whole lot of us buy into certain towns we can end up manipulating the market price. When we leave the locals end up holding the 'inflated' properties.
Of course we are greedy we are here to make money, some of us can get caught if we go overboard with debts.
However, as investors we often have information that the locals do not have.
We seek out information more aggressively. After all we are 'businessmen'.