I'm half tempted to put the word 'fortunate' in inverted commas, since I can remember when we bought in Erskineville friends telling me in no uncertain terms what a dumb idea it was.
"No-one wants to live in the inner west".
"It's a ghetto"
"The slums of the future!".
I could equally say the same about when we bought on the Sydney harbourside at Pyrmont all those years ago,
Actually, come to think of it, every single time we've bought property people have said it's a bad idea.
Maybe that's not coincidence, since buying when everyone is telling you it's a bad idea is likely also the time that you can pick up some of the best bargains.
As my missus said to me the other day, after 17 years of investing in shares and property, buying real estate has only ever brought us good news over time.
In the short term, there will always remain risks, of course, but in order to achieve success you do need to have the fortitude to overcome the downturns.
SMH reports here.