Don't Buy Property! (according to Chris Richardson)

Housing advice: 'don't buy' in a market governments can't actually fix

What do people think of this article?

It's worth reading for the stats regarding income, number of IPs, which professions negatively gear etc...

Who Negatively Gears? by roots73 posted 13th Apr, 2017 at 10:04 AM

 

I question if he is a seller of his own home ? Probably not.

 

Nek minit, he's buying houses with little competition.

That graph just shows who earns the most lol. If you're earning that much, negative gearing might be a good option for you. I'd certainly be buying a lot more property if i had an income like a surgeon.

 

That graph doesnt list anarchists.

What are they doing?

 

There are no "donts" for the choices other people make.
This is just one view point.

 

As someone who's been in the middle of a huge property crash, this isn't great advice. Buy property, just buy it carefully, with a real consideration of fundamentals. Don't buy new development. Buy quality assets in central/inner and tightly-held middle-income suburbs dominated by owner-occupiers. Avoid the very bubbliest cities (Sydney and Melbourne).

 

Of course property investors are going to buy property when the conditions are right, as they were coming out of our downturn in 2013 and beyond. That was 4 years ago. Why are people still buying in very warm to over-heated markets? If they're serious, they can wait or move where life is slower and more affordable.
In five or six years there'll be articles about how property investors were bitten so hard that they won't come back for a long time or whatever.
Market conditions are a bit like the weather - apart from regulations, there's very little that can be done.
Three or four years ago was the perfect time to buy if you could get the credit. Now - not.