Post to Facebook on 27/7/2018 at 12:20 AM
Commenting on “Sydney house prices record biggest annual drop since global financial crisis”
https://www.domain.com.au/news/sydney-house-prices-record-biggest-annual-drop-since-global-financial-crisis-domain-report-20180726-h1338x-754186/
When I talked and wrote about property prices would drop between 20% and 50%, some people thought that I was from the la-la land. There is no point denying that this drastic fall is just a figment of imagination, because when sudden surge in demand stops, the fall will behave the same way In the opposite direction
Many people were buying on impulse, and bowed to peer pressure. So they believe! Let’s wind back the clock. Were their peers around to pressure them to go to auction or buy the houses at ridiculous prices? No, there was no one, except their mind was playing tricks on them.
Do you still remember the so-call two-speed economy? The mining boom created many winners the West, while those in the East suffered from manufacturing decline. In a few months time, normality will return and property prices stablised once again.
Many overseas Chinese have a good taste of property investment in the East and very likely get burnt with the downturn. News can spread quickly, and they may be cautious not to repeat the same mistake. However, the West may present a better option, especially it is closer than the East.
A new mining boom is looming in the West, and it is interesting to find out how soon my prediction will come through.
Thank you for reading.
Before you include property in your investment portfolio, do consult your qualified investment advisor.
Commenting on “Sydney house prices record biggest annual drop since global financial crisis”
https://www.domain.com.au/news/sydney-house-prices-record-biggest-annual-drop-since-global-financial-crisis-domain-report-20180726-h1338x-754186/
When I talked and wrote about property prices would drop between 20% and 50%, some people thought that I was from the la-la land. There is no point denying that this drastic fall is just a figment of imagination, because when sudden surge in demand stops, the fall will behave the same way In the opposite direction
Many people were buying on impulse, and bowed to peer pressure. So they believe! Let’s wind back the clock. Were their peers around to pressure them to go to auction or buy the houses at ridiculous prices? No, there was no one, except their mind was playing tricks on them.
Do you still remember the so-call two-speed economy? The mining boom created many winners the West, while those in the East suffered from manufacturing decline. In a few months time, normality will return and property prices stablised once again.
Many overseas Chinese have a good taste of property investment in the East and very likely get burnt with the downturn. News can spread quickly, and they may be cautious not to repeat the same mistake. However, the West may present a better option, especially it is closer than the East.
A new mining boom is looming in the West, and it is interesting to find out how soon my prediction will come through.
Thank you for reading.
Before you include property in your investment portfolio, do consult your qualified investment advisor.
