Quote:
Originally Posted by XB GS 351 Coupe
Re the mystical property bubble or housing bubble, there is no such thing, property has been increasing in value steadily for decade after decade it's a predictable increase in value that has been repeated for 50-60 years now.
My parents paid 65K for their house, I paid 165K for my first house. That was a lot of money back then, just like 50oK is a lot of money now.
The problem is the new generation, want the McMansion straight off the bat, they are not willing to buy the cheap two or three bedroom house in a crappy area and live without AC for the first ten years, they want it all, as well as the latest iPhone, the latest car, the annual holiday etc etc.
Something has to give.
|
Steady?! I bought my appartment in abbotsford NSW for 565 in 2012. Now you have to have 1.1 mill to even get me listening. Double in 5 years isn't steady.
When dad bought in 1985 his house in Sydney was double what he is earning. Now to buy in Sydney it's about 10x.