FOMO and Home Ownership

I agree that if you have adequate buffers in place then its still ok to buy.
Im just trying to improve servicibility, it was the only thing stopping me from buying last year but im looking for a PPOR not an investment.

I dont see how prices can sky rocket again as they have previously though, interest rates and wage growth are low so what will drive the price up in this current economic environment?
Only thing i can think of is first home buyer incentives.

 

as a 33 year old, tbh i only bought my home because my lazy arse cbf looking for houses every few months or years and dont like people telling me what to do, while my partner and mom like the security of their own home

when it comes to investment, shares beat property almost anytime anywhere, only difference is property is much easier to leverage.

when it comes to judging people,

just remember 80 : 20 rule

 

Can of worm posts
For every 50 people that think shares are better, 50 people will say property is better.

I like both!
However last time I checked, I couldn’t subdivide a share and build on it and make a quick few hundred k like I’ve done....just a thought.

 

I like both too!

You also can't sell 10% of your property...
Or routinely purchase small parcels.

They are different investments for different strategies. A good portfolio needs both.

Also a well located PPOR in Syd or Mel has been one of the best performing investments over the decades thanks to zero CGT.

 

I think what you wanted to say is; 'if you have over $1M in cash' shares beat property almost anytime anywhere.

If you only have $100k, property is the name of the game.

It shouldn't be one is better than the other, they both have their pros and cons for different stages of investment. Property is easier to finance and hence better early on, shares provide a better return but you need money behind you to really take advantage of that

 

Rates will go up eventually. Who knows when. We need inflation and global growth which is not happening.

Maybe improved technologies, automation, AI, crypto, space exploration will kick start the next growth cycle and will cause rates to rise.

 

AI is going to do the exact opposite I’m afraid.

 

Something must be in the water in Ashfield, the unit sold for over a million.
https://www.realestate.com.au/sold/property-unit-nsw-ashfield-132838006

 

Wow.

 

Might be a good time to buy a cheap 2 bed if there's already this much demand.

Isn't Ashfield in the flight path for planes coming into Sydney airport? Every time I'm there you hear the lound rumble on an interval of about 4-5 minutes.

 

Great location and 15mins to CBD... but holy **** that's a result.

 

To be fair it's 300m from Ashfield station, and 126m2 on title makes it a large sized unit. Strata might be low due to it being a yellow brick walk up. A fair price in today's hot market.

 

It is a large unit for sure but it needs a reno as its quite dated. Cant really compare without specifics but this unit is close the station and sold same day for 271k less, my guess is FHB emotionally panic bidding at their first auction.
https://www.realestate.com.au/sold/property-unit-nsw-ashfield-132838550

 

Wow hard to justify 271k difference, maybe 100-150k difference. The cheaper one is further out, older building from the look of it, smaller, and car space instead of LUG. These points might be worth up to 150k. Maybe the older one has some strata issues.