Quote:
quote:Originally posted by Jess9
MACDUNK. I gather you have been in the property market for some time.
Assuming this, can you please comment on the comparison of the market right now, with the end of the last boom (late 90's)?
In particular, is affordability (or unaffordability) about the same now, and are the gross returns about the same again (i.e. scarce to no c/f positive properties can be found - without extreme effort?).
I ask, as I think while the current catch cry is house prices are too high and therefore new entrants are priced out of EVER OWNING etc…this I wonder has all happened before, and is simple cyclic, not a new phenomenon, and will self correct, as in the past.
Your thoughts with respect to past boom comparisons appreciated.
Also any other “multi-property cycle” investors looking on, feel free to comment also.
J9
If the price of property goes down we dont sell we buy. Property developers speck builders etc want the market to fluctuate. Its how you control your finance that counts. Its like the sharemarket, we can only look at the past and presume the future. The price of property wont drop, it has an ever increasing cost of compliance to build. Some of the posters here simply do not understand finance, and how to have a very large portfolio with little or no personal money involved. Property gives you very cheap bank money. It amuses me to see people say property is a bad investment then go out and buy KIP shares. KIP pay huge salaries to management plus a decent return on dividends and sp. Dont you think its worth a lot more to cut the middleman out?. The market is controlled by supply and demand, they are even thinking about listing a house rental company on the share market. I suppose if they do the self same dumboes will be telling us to buy shares in it.:D:D macdunk