GC developer jacking up prices into a falling market. What could possibly go wrong?

I like that he's literally describing a ponzi scheme with a theoretical property attached.

is he for real or is this comedy show?

Very real. @ sherpapropertygroup on Instagram.

dear me.. well.. get in early and enjoy max escalations and jackings over the 3 years. 😅

property developer math ..... what could go wrong ?!

That’s code for we can’t sell them now

This eyesore 250m from my house 🫠

Not sure if it's better or worse than this horrendous piece of design which is a similar distance from mine:

I Karen’d the fuck out of it when it went through DA - they got 50% height uplift.. absolute joke

Welcome to the GC lol. That is basically standard practice.

Car crash waiting to happen.

Baldy will go bust

Boomer logic

His head appears to be entirely made of dick skin

Buying a unit off the plan on the Goldie with rising interest rates and a diminishing economy…. What could possibly go wrong 🤔

What a fuckwit. Classic ponzi. In denial.

Be quick

I commented on his post - I thought he was taking the piss legity

Tell me your wearing white shoes, without telling me your wearing white shoes

Hey, it's like that scene in the Big Short when the ABS was still climbing in spite of the value of underlying assets crashing down.

my brother is an unreal estate agent & he's a fukwit

he'll reduce them when he cant sell...

Trumpian levels of derangement...

It’s all good the LTV ratio will be solid for the bank’s covenants…

80 buyers including 79 associated trusts and one Victorian escapee?

When the retardmaxxers start uber-retardmaxxing.

What could go wrong

More dressing on my word salad please

In for a rude shock

This is like the SBF interview with Matt Levine where he’s trying to describe yield farming. Not sure what happened after that but I think it probably turned out fine for SBF?

He has too say that.

Haha you'd be an idiot to be buying this junk

There’s logic in this specific situation. The buyers are NOT mum and dad investors. These are HNWI, who want the lifestyle and are planning to hold for a long period of time. Also, 3 years are plenty of time and 80% that prices will go up. In 2028 the Labour are gone.

Do you know what happened on the Gold Coast in 2008?

I know. I’m trying to explain that this is a different cohort. For many people, this could be their last move

This time it’s different – the four most dangerous words in finance.

Again, most buyers there do not think about it. They’ll live there and then leave it for their children. It’s a different cohort. The property in many cases is less than 25% of their net worth

Punta 'Dictating' Prices = #fkusall