Reality bites

[duncan macgregor]

WHITE HERON, You are right in what you say, but we talk of people in various circumstances. we should all buy at the bottom, and sell at the top, and understand tax implications of any deal. Some people will never understand whats involved, and it is those people that i directed my statements towards. There is never a bad time to buy a property, time will turn it into a bargain. It is much better to buy a slightly over priced property that you really want rather than buy one that you dont really like because its a bargain. Regardless of the market it is silly not to own a property if you can afford it.
The average persons only savings is mainly in their property.
macdunk

[whiteheron]

macdunk

I was directing my comments to investment properties as I recall that the discussion was initially essentially about negatively geared financing , assuming a rental property

I absolutely agree that to own your own dwelling is most admirable even if it seems a bit on the expensive side at the point of purchase
I feel sorry for those who cant get together a deposit or find someone to assist them to get started
My wife and I guaranteed the mortgage for my daughter and son in law just on four years ago to get them started and my son in law was quite reluctant as the mortgage seemed a huge committment to him at the time , but boy is he happy now that that the equity has grown from zilch to about $60,000

Different criteria apply to personal residences and rental properties