Four Ways I Messed Up!
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- Опубликовано: 3 июн 2024
- The First Casualty of War is TRUTH.
🦈 In an industry of sharks & misinformation, I'm constantly on the battlefield trying to bring you my honest data-driven truths about the property market & economy.
🙏 But I too have messed up and must apologise.
To do the right thing, I'm releasing this episode of where I've gone wrong on this platform ❌
😇 They say to err is human. I think it's important to be transparent and honest, with no duplicity.
Thanks for taking the time to tune in ❤️
#economicforecast #propertymarket #realestatelife
Chapters:
00:00:00 - The Cost of Mistakes
00:01:49 - The Mistake of Underestimating Brisbane's Property Market
00:03:35 - Lessons on Supply and Growth
00:05:20 - Supply Side Constraints and Interest Rate Mistakes
00:07:00 - Making Informed Decisions Based on History
00:08:40 - The Risk of Investing in Woodridge
00:10:17 - The Lesson of FOMO in Property Markets
00:11:54 - The Risk of Playing Safe in Investing
00:13:21 - The Lesson from Hobart's Market Performance
00:14:49 - Thank you for Watching
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So brave to step out to call out your own mistakes. You got my respect PK! But it gave me a lot of knowledge learning from your mistakes.
Thanks mate, it’s great we can learn from successes and mistakes
Wow. PK. U are not just knowledgable, generous in sharing, but your humility to even make this video! U are an amazing person and humanbeing!;)
So nice of you
You forgot to mention that his voice is sexy af! (no homo)😂
Very good video PK. Making wrong predictions doesn’t undermine the knowledge and perspective you share with the community.
The Woodridge thing makes sense to me. It's well and good to have your property go up by 50% but of it really matters until you actually sell it at the right time. With so many renters compared to owner occupiers who knows what kinds of losses you will see in the future. Seems rather risky.
I literally bought in Woodridge about a month or two prior to you saying don’t buy there. I was a little anxious but happy with the result. Thanks for making this video and I still appreciate your underlying data concerns and will watch and wait for the right exit time.
Cheers
Thanks PK for coming back and talk about the mistake you made about predicting Brisbane. It takes a lot of courage to do it. I had watched that video and always wondered why you didn't come back and talk about it. You proved to be a brave and a genuine person. Lots of love and respect ❤
I appreciate it 🙏🏼
You are an amazing human being PK! We all make mistakes as some things are out of our control. I think most of your mistakes are due to once in a life time event like a pandemic. Labor shortages, changes to fiscal policy were all unexpected.
Thanks, yes quite unexpected, but hopefully learnings for next time!
Thank you PK for been so honest, learnt a lot from the video.
Thank you
This is why you are my favourite content creators on property. Good character goes a long way
Thank you 🙏🏼
Good on you PK for doing this video. Not something you see everyday from property experts. I actually thought you might have included something on what you said about Sydney. It is still king surprisingly!
Haha Sydney was one I was bang on right about. Thanks mate 🙏🏼
Good Job PK, There're always unexpected factors, isn't it? You've done really well in most cases.
Where's next Hobart？ 😀
Very informative and well presented.
Thanks PK, makes lot of sense!
Cheers
Hi PK, This is one of the best vedio from you in recent times. I have been closely following you since early 2021. I have learned so many things from you. I always enjoyed the way you articulate the things. But the only thing which I disagree with you was your bearish outlook of the Ipswich suburbs. I have 1 house in Collingwood Park and 2 houses in Redbankplains. All three houses had gone up a lot in the last three years. It's only 35 minutes from Brisbane CBD, safe from flood, everything around. Huge applause for you to acknowledge your mistakes. For me, it was no brainer to think that those areas will boom in its time. I have seen how the western suburbs in Sydney gone crazy over the years. Anyway thanks for sharing 👍
Thanks mate
Thank you for acknowledging, I know Brisbane Logan in 2020 were $300s and in also Ispwich. Lucky me now $$$$ 😅
Well done
Appreciate your honest feedback.
🙏🏼
Very Admirable 🙏
🙏🏼🙏🏼
Great insight brother..
Much appreciated
Pk can you please talk about kellyville etc, ppl said it’s over valued etc . However migrants like live in a new house they don’t care about old houses in school zones anymore. Given 422 cost 900k to build in Sydney those houses selling in marsden park for 1.4K look very cheap.
Hi PK, the plandemic changed everything. Especially on the Goldcoast, the mass exodus from Sydney and Melbourne really drove the prices through the roof in my area of Elanora qld 4221. And it's still climbing due to a lack of supply and the position
Yes the GC was big time boom! Writing was on the wall
In my opinion your predictions towards Melbourne will be the next one to be wrong. Anyway I truly value you're contents and realy appreciate your effort on educating others
Thank you, I haven’t really made any exact Melbourne predictions per se other than high level I see value long term but expect softness short term in summary
Melbourne is value. But not going to do anything quickly
Logan got a 100% gain from 2019 to 2024 when everyone said dont buy :'D
Hi PK, thoughts on Moreton bay council area for 2024 or too late?
Very bullish on Moreton bat council.. I did a video on this late last year
Thanks PK will take a look at the video
👍
More cricket analogies, please 🤌
Haha gladly
The key point that you and many other commentators missed and are still missing: COVID was a major global event that changed what we value...forever.
When faced with our own mortality humans make big changes, for example.
We re-evaluated what's important to us.
WA is still basically another planet.
That leaves VIC, NSW and QLD.
VIC is not a lifestyle state; it's too cold; Aussies like an outdoor lifestyle.
Lifestyle destinations in NSW are comparatively expensive.
Enter QLD. For the wealthy you have the Gold Coast, Sunshine Coast and Brisbane.
And there's Hervey Bay, Bundaberg and surrounding areas, Agnes Water, and Yeppoon if you have a lower budget too.
Is it any wonder then that QLD is going gangbusters across the board?
Not really if you understand Australian culture and what's important to Australians particularly in the aftermath of the biggest event in history since WWII (COVID).
Moving forward, therefore, expect QLD to outperform both NSW and VIC and thus surprise most commentators that still can't fathom the long term structural shift that is the extent to which COVID has changed the world in terms of what's now most important to human beings.
Lifestyle.
Sounds like we’re aligned. I’ve been bullish on qld more so than down south in my commentary
Have nothing but respect for you PK. Period. 🌈
Last year you were calling interest rates slowing or reversing (way too soon as it happened). At the time I thought ’why would a guy with so much experience in the market even attempt to prognosticate on interest rates?’
I secretly hoped you’d shut up to be perfectly honest 😅: a man like yourself doesn’t need to crystal ball gaze, especially a man who deals daily in just the actual cold hard data. It doesn’t progress your agenda in any way. It’s pure guesswork.
Anyway, I’m watching you regardless mate. 💯 Thank you for being totally authentic and honest in all you do.
Thank you my friend, appreciate your comment. I just try to tell it as I see it with the set of data in front of me in the moment