On the back of last week’s email I had a vast array of responses.
Some hopeful first home buyers replied optimistically saying they hoped prices would drop 50%.
Others suggested prices would rise intensely in the next 12 months.
But my favourite response to the short-term property market came from a Pakenham cabinet maker who is an avid collector of Pokemon and NBA playing cards.
He has watched as his limited edition collectible items have crashed in value and he believes what happens in the collectible sphere predates what happens in the property market.
“No one has got money anymore,” he told me.
“We’re in a housing bubble and I’m expecting it to burst in the next few months.”
But unlike most economists and property observers, this local resident isn’t just making baseless predictions. Not this guy.
This week he is planning on putting his family home on the market. Why? Because he wants to cash out before the drop.
He plans to move his family to a rental for a few years and buy back in after 24 months when prices have been slashed.
To his credit, he’s putting his money where his mouth is and I really respect his conviction.
Watch this space
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