Are house prices going up this year?
Only one way to tell; wait until 1 Jan next year and see. Other than that, there’s really no way to know. After all, I don’t know anyone who can see into the future. People can guess, they can forecast, the can conjecture, but they cannot tell for sure. Only after the passage of time does the answer become clear …
“See that, prices did go up! I told you they would!”
Or,
“I never thought the prices would drop, but they did! Amazing!”
But, this is just hindsight. And, the problem with hindsight is that although you’re always 100% right (after all, you know the answer, the event has happened!), unfortunately, you’re also 100% too late. The opportunity has passed …
“I should have bought that land a year ago. I could have got it for $100,000 less!”
Or,
“I paid way too much for that land. I thought prices were going to keep going and I wanted to buy before they go too high. Turns out I should have waited until the prices dropped back even lower!”
So, what’s the answer? What’s a property investor to do?
Well, how about some advice from Robert Kiyosaki? What does Robert have to say about whether house prices go up or down?
Here’s what he has to say …
It doesn’t matter!
According to Robert, professional property investors don’t invest for capital gains. And, if you’re hoping and praying that house prices will go up, you’re investing for captial gains. If your property investment strategy relies on continually rising property prices, you’re investing for capital gains.
But, why? I though capital gains is the name of the game.
Robert says capital gains are just an added bonus; a luxury. And, one that professional property investors don’t rely on.
So, what’s the name of the game according to Robert?
That’s right … CASH FLOW!
The deal has to stack up from day one. It has to bring money in from day one. It has to be self supporting. It has to be virtually inflation proof. It has to be Global Financial Crisis (GFC) proof.
Are house prices going up this year?
According to Robert Kiyosaki, that’s not really a question that professional property investors care about.
Instead, Robert might ask a more meaningful question as follows:
Are your investment properties going to bring in cash or are they going to cost you money this year?
And, that’s the question I’ll be focusing on.
Will house prices go up this year?
Don’t know. Don’t care.