As we FEEL fomo about finding a house in Tasmania, we're also being a little cautious, anticipating an effect on the market due to interest rates going up and people needing to sell their houses as they are living beyond their means. I am a little shocked at how much some friends are paying for properties without the assets or steady, reasonable income to be comfortable about facing a mortgage that size. In many ways we're hoping for a bit of a crash, though that means OUR place will fall in value too. We have thought about selling now why the market is hot and just living in a caravan until the house prices stabilise or at least we're not in ridiculous competition for sillllllllly prices.
Saying that, Tassie is probably valued now at what it SHOULD be - it's always been undervalued, especially with how goddamn beautiful it is out there.
You know, I'd be happy with an extra 500k...it doesn't sound much to the wealthy but would make a helluva difference to us!
Me too. Perhaps they are banking on inheritance?
I remember there were stories of people selling their houses for a slab of beer and a bottle of rum back in the day.
"just a measly 500k" - changes everything, doesn't it?
A slab of beer and bottle of rum? I'd pay twice that much!!!!!!
And yes, some people are getting early inheritance. Over my dead body, says Dad :P
Yeah - It was just after the GFC and I think it was on one of those gumtree type sites - I was trying to find an article but need to dig deeper by the looks :)