Article on Australia's 'young property tycoons'

Found an Interesting article on how the media portrays all the young Aussies (including some PC members) who have a large property portfolio.

Even more interesting are the comments for the reddit article which i found it in:

"Negative gearing properties today is likely the dumbest financial decision you will make in your entire life. It will be like being 18 and broke all over again when the bubble runs out."

*sigh*

 

I don't get why it's ok to have threads that are pages long criticising young people who say that housing is unaffordable but when someone criticises an investor it's like they've committed sacrilege? If you put yourself in the public eye, expect to get criticised

 

Good to see people start young and invest for the future but the true test comes when the tide has gone out.

it all come down to how prudent you are and if you any good you will survive the downturn and make good money out of it

Rising tide lift all boats, we have to wait what low tide delivers but judging from WA saga people will blaming banks for lending them the money, it too easy, they lend you anything but it all their genius when they make a bucket load based on cheap and easy debt -

 

Unfortunarely for WA mining boom is over until they find sonething to replace it this market will remain a no go zone IMO