Post your worst price dropped ip

I can honestly say I've never had one in Oz that dropped below purchase price.

But if you do have one like that and you still believe the fundamentals are sound I would suggest to hold and ride it out.

Had a few overseas though in more volatile markets. In hindsight should have bought even more during the downside! All are way way up from purchase now.

 

How would you really know unless you were forced to sell ?

The thing is, it goes up and down, everywhere.

 

Haven't been investing long enough.

 

I get a bit worried when people say, stuff like

'time will heal all wounds' or 'if its this cheap, it has recover eventually'

I think if the market in the area has collapsed, is like betting on black because the previous was red, it still can drop further for whatever reason

 

Thing is, if you did appropriate research it's unlikely you would have bought somewhere that collapsed in the first place.

 

true, but its all hindsight though

for all those that suffered because the GFC I doubt many people would have said 'oh i researched, GFC coming, i will sell or wont buy'

I doubt all the experts had any idea it was coming,

and you cant count the people who say the market is about to collapse every day of their lives. because one day you will be right

 

I was reading some serious type report from one of the big analyst companies (I forget which one) which was claiming in 2013 the property was in a bubble and about to collapse. I think they peaked too early!

 

I think some would have if they really took a hard look at what it was built on but self-delusion was at an all time high.

 

Canberra rental market a tale of two cities, experts say

 

I personally feel that everyone's trying to prove himself or herself right with respect to predictions of doom and boom. Some would probably make better treasurers by the sound of their arguments. At the end of the day, you play your own game.

 

Thanks mate one thing I have done is do the best j can do to keep the credit file in tact it's been hard but I don't think I have faulted before

 

Where's that at ?

 

Frankyl i wouldnt have a clue.
If so called experts who do this day in day out have no idea in reality, what chance do we have.

If you look at all the patterns. There are some bubble type indicators as well as some that totally contradict it.

Everyone is entitled to their opinion.

Thats why investing is a gamble. If we all had a crystal ball. We'd be rich

 

That's the thing. You can be spun around indefinitely if you're not careful. You just have to make a bet either way and stick with it.

 

Costa Brava, Spain. Not Australia but of the 5 countries I've lived in Spain and Australia and the most similar when it comes to owning & investing in property (Spain has one of the highest rate of home ownership in western Europe, 78%. As as a result their median wealth is twice that of a German). Just because a country wide price collapse hasn't happened in the past doesn't mean it wont, as they found out here.

 

Haha well actually all the experts and even some at the Mirvac Chairman calibre (just an example, not him of course) were telling me not to buy during GFC.

They were all wrong. That was the time to buy.

 

The smartest property investors in Aust are all over in Spain now. They just rode the US boom.

 

I would say that unless you buy into a bad investment, or mining town or serviced apartment or otp or at the peak of a peak. It would be near impossible to buy something that falls in value

 

Thats what they thought in Spain, Ireland, etc.. in 2007.
Its far from impossible, it can all go down. Now prices are on average back to 2003 or lower in Spain.

 

You're joking, right? Invest with that assumption and you're in a very dangerous place.