- Joined
- May 5, 2006
- Posts
- 66,505
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- AFL Club
- West Coast
The housing landscape has changed over the last decade. People have finally caught up to the idea that house prices don't always go up. I have a house (with a home loan attached of course) but it is shelter over my head rather than a ticket to riches. Assuming it's gone up $100k then I haven't made $100k. If I sold I would, minus commission and fees, then if I bought again I'd pay stamp duty and fees and presumably that place would've gone up $100k too... zero sum game. You only win if you accumulate.
But yeah, the immediate rush to 'buy before the next boom' thing is pretty much gone. It's largely a self fulfilling prophecy anyway. If everyone agrees house prices always go up then people will keep buying and pushing prices up. If you take a step back and say '$1m+ for a crappy 3x1 30 minutes from the city isn't actually a good deal' then things slowly normalise. It's a good time to be able to save a deposit that won't be eaten away by price inflation, but a shit time to be looking for work to do that.
But yeah, the immediate rush to 'buy before the next boom' thing is pretty much gone. It's largely a self fulfilling prophecy anyway. If everyone agrees house prices always go up then people will keep buying and pushing prices up. If you take a step back and say '$1m+ for a crappy 3x1 30 minutes from the city isn't actually a good deal' then things slowly normalise. It's a good time to be able to save a deposit that won't be eaten away by price inflation, but a shit time to be looking for work to do that.



