- Location
- NSW, Newstralya
yes, traditionally "droughts" have presented great opportunities to many
and yes, it is "typical" & normal
short term - prices are stagnant because nothing is selling
the general feeling is that "if" seasons return to normal, there will be a flood of properties on the market
my longer term concern is if this is the new "normal", then property values will totally collapse
the decision to sell is made harder if there are no buyers in the market . . .
a friend of mine who was farming down on the Lachlan in the 90's / early 2000's was really hammered during the "millennium" drought. When he finally made the decision to sell, it took him another 2 years to actually sell the place. 6000 acres with about 1500 irrigation. He got out with nothing. Moved to Brisbane & got a franchise with a lawn care company ( he was an agronomist by training ). Was renting in Brissy for 10 yrs or more - finally was able to buy himself a house this year . . .
and yes, it is "typical" & normal
short term - prices are stagnant because nothing is selling
the general feeling is that "if" seasons return to normal, there will be a flood of properties on the market
my longer term concern is if this is the new "normal", then property values will totally collapse
the decision to sell is made harder if there are no buyers in the market . . .
a friend of mine who was farming down on the Lachlan in the 90's / early 2000's was really hammered during the "millennium" drought. When he finally made the decision to sell, it took him another 2 years to actually sell the place. 6000 acres with about 1500 irrigation. He got out with nothing. Moved to Brisbane & got a franchise with a lawn care company ( he was an agronomist by training ). Was renting in Brissy for 10 yrs or more - finally was able to buy himself a house this year . . .