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The Simple Guide to Growing Rich While You Sleep

Updated: Dec 1, 2023

I ran across this headline the other day…

Fat Tail Investment Research

Source: AFR

The story focuses on the recent change in market conditions.

It’s resulted in a vendor at the top end of the market achieving their $2.35 million wish price after their property passed in for $50,000 less six months ago at auction.

That’s not surprising.

Market conditions have improved.

Punters are still budgeting for rate increases and are holding back some in reserve.

However, clearance rates are now pushing above 70% — and that is a sure indicator that median prices will keep increasing in the short term.

There just isn’t enough stock to meet demand.

In fact, I know quite a few vendors that have been holding off and waiting for higher prices before selling.

Likely we’ll see that surplus hit the market as we head into the spring months later this year – especially if conditions continue to improve, as I expect they will.

However, the headline of the article ‘House gains more than $50,000 in six months — by owners doing nothing’ reminded me of the well-known quip penned by 19th-century political economist John Stuart Mill.

They ‘grow richer as it were in their sleep without, working, risking or economising’.

Born in London in 1806, John Stuart Mill is remembered as ‘the most influential English-speaking philosopher of the nineteenth century.

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