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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (12190)	12/27/2001 1:22:32 PM
From: Julius Wong	Respond to of 74559

Real estate is tricky. In 1970, a friend bought 300 acres land near Louisville. After 20 years, he sold the land for a tiny gain of less than 10%, and moved to California. One year after he sold the land, price started to move up. In five years the price moved up 500%!

To: LLCF who wrote (12190)	12/27/2001 8:40:09 PM
From: Moominoid	Read Replies (1) \| Respond to of 74559

First there are really big real estate gains only to be had in Melbourne/Sydney/Brisbane and their metropolitan areas (including Gold Coast and Sunshine Coast) and maybe Perth and Cairns and even Darwin. If it is in Tasmania or South Australia forget it. Second, he likely bought at the top when the Aussie dollar was strong and now wants to sell at the bottom. Be interested to hear where his land is. My only property investment is an exchange traded package put together by Deutsche Bank involving CBD department stores run by the David Jones chain in Sydney and Melbourne, refurbishment, leases etc. It produces nice tax breaks. David