by Marshall Cobb - Principal
It was terrific to see such a large crowd at our Downsizer workshop last night. It was refreshing to see that their reaction to the current softening market and associated media hype was... " no need to panic, we have seen it all before!"
It was very evident that most of the wealth that Downsizers had accumulated was from real estate that they had held over a long time frame. With that in mind, the government needs to be very careful not to overcook this current slowdown. While things right now might be great for first home buyers, there are a lot of people nearing retirement with not quite enough super, and who are relying on the proceeds of their property assets to retire comfortably.
Back to business. This week we added a terrific completed apartment project to our list called Sixteen in Homebush. Quiet street, walk to train, beautifully finished and terrific pricing as the developer is keen to sell the balance of the property now that it's finished. And for investors, we even have some for sale with tenants already in place!