[Cattle Rustler]

(10-13-2012 01:40 PM)BIGINJAPAN Wrote:  

Dude do not buy a place in OZ right now. Austrailia and Canada are the only 2 western countries who haven't had a real estate collapse. Our time is coming, the banks can't keep the charade up much longer. Also real estate from an investment perspective is going to be the worst performing asset in the next 10-20 years. Yes some markets will boom, but most will not. Sydney for the last 5 years in a row has been ranked in the top 10 for most expensive places in the world for price/sqft. The market there is not going any higher.

Stick your money elsewhere and wait for the collpase and you will be buying the same place for half price. In the meantime, rent. There is no shame in that. I own a lot of properties and I have been renting my own place since 2009. The next place I buy will cost me some gold coins and that is it. I am just patiently waiting and making my money work elsewhere.

It's been 2 years and the property market has not crashed in OZ, it's been increasing actually.

So, when is the crash coming?

In other news, the US market has been recuperating for the most part. Most places are at pre recession levels.......and some states/cities are booming. Man, those out of staters have made Austin and Texas expensive as fudge. Might need to head out to Oklahoma or New Mexico for some affordable housing.