Australians have always had a love affair with residential property investment and are apparently obsessed with negative gearing. Certainly, many of my clients have done very well in property, both residential and commercial. However, so too have they done well in building up strong practices as well as equity portfolios and other unrelated business ventures. So is residential property investment the preferred panacea that many believe it to be?
A favourite quote of mine, “yesterday is history and tomorrow is a mystery”, is pertinent here. However, the objective results in the past certainly go a long way in understanding Australian’s love for residential property and and the benefits of negative gearing.