They say that grumpy old men are not grumpy because they are old, but because of the things they regret not doing before they got old. I don’t know if that’s right, but I suspect there is a lot of truth in it.
When I was growing up I used to roll my eyes when my parents, relatives and all the oldies (much younger than I am now) would say, “See that house that’s on the market for $25,000 I could have bought that 20 years ago for $6,000”. They would say that, and then still not take action. They would watch the opportunities come and go, decade after decade. Never able to roll the clock back.
Missed opportunities and the associated regrets are so common. Ask yourself, do you regret not buying a property 10 years ago?
What if you could roll the clock back? Would you take the same course and live with the same regret in another decade?
Well now, as a result of irresponsible lending by American bankers (and others) leading to a GFC, you can roll the clock back for the first time in living memory. That’s right, you can buy property in 2012 for 2009 prices.
But will you?
One thing is certain, time will pass, prices will rise. In another decade, some people will have bought property, some the dream family home, some the whole street, and some will be saying, “Son, I remember when I could have bought that home for $550,000
and now it’s $1.2 Million.
That’s how we get grumpy old men.