Australia housing bubble

[Yellow_Festiva]

Originally Posted by zilo

Get a big bag of popcorn and sit back...the blood letting will begin soon enough.

A few places I've saved were passed in this weekend and now for sale by negotiation.

I agree with you. Last 3 months the media was buy buy buy 20% increase this year, get in while you can...

Now its about how many people are going to suffer from mortgage stress etc.

I've now changed my tact. I was attending several open houses each week looking for something semi decent with 3br and double garage circa $650-750k but it was always going to be temporary till I found another decent block or a house I really liked but then that middle section of the market is overheated and I'm dealing with first home buyers etc.

And then I would need to refinance to access my funds and rent it out...

Now I'm looking at the lower end of the market, 2br unit with garage between $320-360k as that bracket didn't go crazy and leave the rest in the bank ready to go when needed.

Easier to rent out after for 5% return, easier to refinance and should the market drop my losses would be minimal.

Was considering renting but don't see the point seeing I've got the cash and the stamp duty is around the same cost as a years rent. The way I see it after 12 months I would be ahead compared to renting.

I put in several generous offers in the past 2 weeks and not even a reply to negotiate... let's see what they go for at auction..

As for real estate agents... nothing ever changes. They should be charged for blatantly mis representing properties. So much wasted time going to places, lining up, signing in, taking shoes off only to walk out 30 seconds later ****ed off and mumbling... NOT AGAIN...

Part of the game I guess...

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