subject: The Market Is The Market [print this page] When it comes to buying Property.I believe that people get far too distracted by what the market is doing. For a start, the market isnt actually doing anything. Its what people are doing that is creating the market. People usually do what others tell them to do, and in the case of buying property it is often the media dishing out the information. For example, when the media says property is going to fall in price everybody believes them, nobody buys and the market falls due to lack of demand. Self fulfilling prophecy.
Why are we so gutless? Why cant we act for ourselves? Why cant we make up our own minds?
Its never a bad time to buy property, as long as you can afford it. The only time people get badly burned is when they buy something they cant afford in the hope that they will make lots of money without actually having to pay for it. Thats gambling, not property investment.
Property is the only thing that you can buy and get a complete stranger to pay off for you. I love that about property. So now, how can you lose? So the property drops in value for a short time. So what? It hasnt affected you has it? The tenant is still paying the rent. Its not costing you any more just because the value goes down is it? So just wait until it comes back up again. The only way you can lose money is if you panic and sell at a loss. And why would you do that?
So really, the market is the market and it really doesnt matter what its doing. If you buy property you can afford you will grow your wealth faster and with less risk than with any other investment. Now, if you have any equity in your present property and you have a steady job you can afford to buy more property.
I am very committed to helping people see their financial potential and to grow their wealth. There are too many people struggling who just dont need to be.
If you have a serious interest in improving your financial situation, please email me at niki@thepropertyexchange.com.au or give me a call on 0411 428 117.
