DARWIN - Discounted by 22% and I'm still Hesitating...

Might be better off signing a shorter term lease, rent could potentially drop quite a lot more by the sounds of it

 

Yeah, whatever we buy...we just won't sell it. Ever.

But there's also kinda no point in being underwater for the first 10 years either...

I thought things up here were starting to start finding a balance....Maybe I was clouded by the emotion of it all....

But, sitting back...The reality on the ground, the numbers, the population decrease, new supply still being built......It's all starting to point in one direction, and one direction only.

There was talk that the new shopping centre being built, the new freeway, new hospital would prop things up. But two of those projects are coming to a close now and things are still deteriorating. And that is with Inpex still powering along and employing 8000 people. Imagine what will happen when that shuts up shop next year....

Crystal ball stuff is always murky, but the chances of fertilizer hitting oscillator are now well and truly larger than a recovery.

I love this town and would be delighted to be wrong, but i strongly suspect (and have the numbers to back this hunch up) that the Intial 22 percent drop is only the beginning.

 

The other way is to jump in when you start to see a spike, problem is you could be waiting a long long time, for example blue chip high end product in Perth has still yet to recover and it crashed in 2007.
Sometimes its not about the money but about lifestyle and enjoyment what gives you pleasure today, a beautiful primary residence may be a great choice regardless.

MTR

 

I agree completely. We can afford to wait one more year though. Not a big deal.

Hopefully at the end of that we'll be able get something much nicer for the same money.

 

That's a really good plan, and if the dream home comes along in the meantime, give yourself permission to break the lease and go for it, that's my attitude life it too short