There is an interesting discussion on “how high can properties go?” in the domain newsletter.
http://www.arb-forum.com/domains/newsletter.asp
worth a read.when people start asking this question, its time to ask “how much will they fall now?”
I think prices will double!!
]Just don’t ask me when or what convolutions will happen in the meantime.
I just sold my PPOR….and I am not a buyer until I find value.
I am expecting some value to emerge in the next couple of years.
Just my take on the situation.[:0)]
Wayne
Hi guys
WayneL your point is right prices will eventually double. History shows even when houses drop in value (which rarely happens they never fail to regain and pass their previous highs. However as Crashy says the market may drop so if your a trader then maybe you would like to take some profits, but if your an investor why get nervous? as long as my properties are cash positive, i’m happy to own property.
regards westan
, but if your an investor why get nervous? as long as my properties are cash positive, i’m happy to own property.
regards westanWestan I couldn’t agree more. If I already owned an IP or 20 that were $+, no way would I be a seller. Just not a buyer atm (unless a great deal smacks me right in the chops [
][:0)])The only reason I sold my PPOR is to return to the land of milk and honey(and flies)….my native Perth[8D]
Cheers
How High?
Well i hav heard that house prices double every 7 years… as a general rule i guess…
look at past trends, it sounds crazy now i guess, but sure enough, a $600K house would hav been worth about half 7 years ago, and as crazy as it sounds in another 7 years it will probably be worth $1.2 mil. there are obviously exeptions to the rule, some real estate i hav dealt with has doubled in 2 years, a friend of mine bought a place in bathurst 12 years ago for $42K and its now worth about $57K…
Just dont get me started on the “value” of inner city apartments in sydney thats all lol
Jason
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