I got a bit of a kick out of this article from December 2005-
http://www.barefootinvestor.com/property-market-crash-looms/
The argument sounds strangely familiar to the D&G crowd in 2011 however I particularly enjoyed the part of the article where the author made a point of the slowing Melbourne market and joked about the RE spruiker in Victoria arguing that 'now (i.e. 2005) was a great time to buy property'.
Well with the benefit of hindsight, and knowledge of Melbourne's growth over the last few years, this guy really got it wrong. I just wonder whether any young impressionable potential homebuyers took notice of these warnings and subsequently held back from purchasing, only to find themselves priced out of the market despite their high-interest savings accounts.
Oh yeah, we also had a little bit of a GFC somewhere in there too and strangely things worked out ok.
I will preface this with the comment that the Barefoot Investor is actually a really likeable and intelligent guy, I just think he missed the mark with this one.
http://www.barefootinvestor.com/property-market-crash-looms/
The argument sounds strangely familiar to the D&G crowd in 2011 however I particularly enjoyed the part of the article where the author made a point of the slowing Melbourne market and joked about the RE spruiker in Victoria arguing that 'now (i.e. 2005) was a great time to buy property'.
Well with the benefit of hindsight, and knowledge of Melbourne's growth over the last few years, this guy really got it wrong. I just wonder whether any young impressionable potential homebuyers took notice of these warnings and subsequently held back from purchasing, only to find themselves priced out of the market despite their high-interest savings accounts.
Oh yeah, we also had a little bit of a GFC somewhere in there too and strangely things worked out ok.
I will preface this with the comment that the Barefoot Investor is actually a really likeable and intelligent guy, I just think he missed the mark with this one.