Well, I feel that unemployment will rise, small businesses secured against homes will cause some foreclosures – BUT…..
Property with good fundamentals will not suffer.
You all know what the fundamentals are…..I looked through the Auction results today (Melbourne) and the small places in good suburbs, are still booming.
Poor areas, particularly overcapitalised McMansions in small areas will suffer.
Alot of fear in the market now, Share and property. Channel 7 with Kochy and credit crisis problem telling how things may get worse but don't panic. They mentioned Perth, Darwin and parts of Melbourne could have house prices dropping. This does make sense with some of the high prices in these cities.
Remember the main thing that control price is supply and demand. Going by the stats there is more people moving to Australia every year. Also research expected property growth in the next 5-20 years. Soon the media will be talking about the housing crisis again soon.I think the places they mentioned have a greater risk of dropping house values especially if mining slows down. Im from a mining family and believe me it can happen fast.
hey guys,
i just finished reading the book, from 0 to 130 properties in 3.5 years and i have been inspired to invest in property when i have enough saved for a deposit, but my parents doubt me because of my age as i am still young at 17 and completing yr 12. can you guys please give me hints into what to invest as my target deposit is $15 000 and if you think age is a barrier?thank you
Age is not such a barrier, but I would recommend saving a bigger deposit (plus a buffer) and waiting until unemployment looks like it is going down. At the moment it's going up. http://financialdisasters.blogspot.com This could be a few years away. Better to be patient rather than paying tens of thousands of dollars too much. You won't make money that way.
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