Where to buy... NOT Sydney

Just a quick shout out to all the brave members who got the Sydney downturn right and early from at least a couple of years ago!

Sash, MTR, AlexV... plenty of banned members too - DowntownBlock, MarcusYuu etc

It takes courage to swim against the herd, and the herd on here is massively biased towards property rising due to commercial interests of brokers and owners of site!!

Also have had to endure replies like below when putting forward sensible predictions of prices dropping.

“Just jealous, because can’t get in market”
“What downturn, I just saw a house sell for $12mn in Bondi, wooo”
“Clearance rates don’t mean anything”
“One day you will be able to afford to buy”

Thanks again for the bravery people. I’m sure many people have saved $$ buy either selling earlier or not investing over 18months of price declines now which doesn’t look like stopping.

 

What your forgetting is the astute investors and not the amatuers bought in Sydney and rode the entire peak of the wave. Meaning values went up 150%+ in some areas even more.

In fact some of my houses in Sydney I bought for circa $200k. Now valued at over $750k - that is per house. Multiply that by numerous houses and you get the picture.

A drop of 10-15% was due to happen. They are still up 85%. I for one am not worried about Sydney a single bit demand for this city will always be there. Short term sure no money or not much to be made - long term view Sydney will always perform.

Just sit back and relax. Another day in paradise for the investors that already made a motsa. Nothing will increase indefintely - a pullback was needed and required.

 

You’re missing the point... anybody can be always positive on property, just look at RE Agents...

Burning a 10 or 20% cash deposit when in growth phase of journey ain’t fun as many on here can attest, let alone negative equity...

Sydney has already fallen 10-15% and interest rates haven’t even risen yet.... let’s hope the worst is over but again thanks to the brave souls who analyse the data and made the correct call about Sydney going down 2 years ago while some on here are still in denial!

Paradise it certainly Is, burning cash or borrowing capacity is not much fun for most ppl I would suggest

 

The concept of a crowded traffic infested city of 5 mill plus is an outdated one. People are beginning to realise that life’s better in the regions.

I’m from VIC and we are seeing this, Melbourne slowing down and dropping back, and our larger regional cities kicking goals.

 

You forget some of the people predicting have predicted for years and years and years (in fact from the days of the old forum which was way before the Sydney boom even started). You predict something long enough especially in housing/share market it eventually comes true.

Alot of the guys on here predicting Sydney/Melb crash years and years ago they themselves missed out on the biggest capital growth opportunity in generations. That says it all.

 

Where's @harry_dent?

 

.... But Sydney was not the only market that boomed from 2013, I know of at least 3...

Sydney
Melbourne
and yes.... believe or not Perth between 2013-14

Leverage in all rising markets/diversification is a good way to go, easiest way to make money.

I was banned … I am back... that had something to do with Trump we are all good now....

 

You naughty girl.

 

I wish I had the hindsight to state the obvious once it happened.

 

some people just can’t think ahead of the curb. It’s easy for everyone now to say that “a 10% correction after years of growth is normal and was widely expected” but only less than a year ago the idea that Sydney and Melbourne would soften at all was laughed at. And now Sydney is tanking like Darwin and Melbourne is the fastest declining city in Aus.

Just admit things have gotten bad much quicker than you imagined. The denial is obvious. “This correction is normal and was expected” .

 

No denial here man - the number of 0s before the decimal dot that represent my equity balance there is definitely no denial there. LOL

Doomers and gloomers on the sidelines from years ago have missed out on an easy 7 figure capital gain purely in Sydney over this growth. I know plenty that missed out by downramping property and being on the sidelines.

 

But where's @fullylucky? or @darlinghurstboy?

 

Nah I reckon ppl just trying to pretend they aren’t shocked at how quickly the market is deteriorating.

 

8 figures in 6-7 years at my neck of the woods.

 

Hahaha - I know you were trying to get into the market last year right? Still trying to buy? Trying to get some amatuer to read these posts and get scared to reduce their price by $50k so you can jump in? LOL

 

. I think the downturn is sending you bonkers .

 

I'm not shocked. Perth 2007-2017 had some shocks. Sydney is sitting pretty at this stage in comparison but will decline further for sure.

 

When you predicted the downturn 3 years too early.

You didn't predict ****.

It's like me starting to predict the upturn from next year for the next 3 years I will eventually be right.