One thought on “Australia’s “Building” Crisis; And A Quick Reminder”

  1. – Some of my friends told me repeatedly that I should stop renting and buy a dwelling / a house / property because then I was able to “build up” wealth. But with all the building disasters appearing in the news (e.g. Opal Tower, Mascot tower, etc) on my computer screen I am glad I didn’t follow their advice. I repeatedly pointed to my friends that property valuations kept reaching more and more insane levels. And that those valuations would go ultimately revert to the mean (=going down).
    – More and more bad news “coming out of the woodwork” have convinced me that renting is not so bad after all. And my friends are now having their own set of (financial) problems (divorce, mortgage stress, negative equity, etc.) and are now not so vocal any more about buying property.

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