Being called a compulsive liar by these bull fuckkks on APF is a compliment.
I found this site just over a year ago. Prior to that, I was very bullish on Perth property (I don't give a shit about Sydney or Melbourne because I live in neither).
We had a resources boom, we had stuff the rest of the world wanted. Things could only get better.
But I was also aware of a slackening in our forward order book at work.
It was a relief to be honest. Doing endless budget quotes and responding on deadline to RFQ's from ever demanding resources clients was doing my head in.
The respite was welcome.
But after a month or two of respite, you start to wonder why?
And talking to suppliers (steel, design verifiers, consumables) it became apparent that something was changing.
So rather than wait an hour for the Titanic to sink, I took my family off the boat and got well clear.
Twatty, Skammy and Trollie reckon I should have stayed aboard and avoided drowning because boats don't sink (boats don't sink, you silly billy).
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Have a guess, what does it cost to upkeep a 100 year old property over it's life ?
A lot less than it would cost to rent an equivalent property for 100 years.
Quote:
I bet it's a lot more than the upkeep and maintenance on my gold
You're forgetting that the property pays a rental yield (or eliminates the cost of renting in the case of a PPOR) which more than covers any maintenance costs.
So if you have a million dollars to spend, and the choice is between buying a $1M property vs buying $1M of gold, then property is clearly the superior option.
I found this site just over a year ago. Prior to that, I was very bullish on Perth property (I don't give a shit about Sydney or Melbourne because I live in neither).
We had a resources boom, we had stuff the rest of the world wanted. Things could only get better.
But I was also aware of a slackening in our forward order book at work.
It was a relief to be honest. Doing endless budget quotes and responding on deadline to RFQ's from ever demanding resources clients was doing my head in.
The respite was welcome.
But after a month or two of respite, you start to wonder why?
And talking to suppliers (steel, design verifiers, consumables) it became apparent that something was changing.
So rather than wait an hour for the Titanic to sink, I took my family off the boat and got well clear.
Twatty, Skammy and Trollie reckon I should have stayed aboard and avoided drowning because boats don't sink (boats don't sink, you silly billy).
Dimbo I don't give a fuck what you do or did. All I have done is point out your lies but also show you that you are in a financially weaker position today than had you kept your family home and made the same investments.
A PPOR is not an investment, it is a place you live and make memories. You still have to live somewhere, and you could have kept your family home.
Your strategy had 2 parts - sell at the top and upgrade for free. You were very clear about this on Perthnow where you claimed prices would fall 25% by November 2014. The problem you have is that the market is not falling far enough or fast enough for you to turn your profits into that property purchase you coveted making you a genius in your own mind.
As I have said all along the investments you made were very wise. It is the way you made them that was stupid. Unless you were leaving the country straight away you should have kept your home and used its equity for the investment. Had you don'e that you would be in a better financial position today. If you can not understand that you seriously should stop commenting here or anywhere else about investing.
My only hope for my three boys is that they turn out nothing at all like Chris.
A lot less than it would cost to rent an equivalent property for 100 years.
How much less however ?
What is the true holding cost of an average property over it's life ?
Quote:
You're forgetting that the property pays a rental yield (or eliminates the cost of renting in the case of a PPOR) which more than covers any maintenance costs.
No, actually you are incorrect... I am not forgetting that.
I am simply pointing out that property costs money to hold... it's not all income streaming in all of the time... sometimes, it even costs more to hold than the rent !!!
Quote:
So if you have a million dollars to spend, and the choice is between buying a $1M property vs buying $1M of gold, then property is clearly the superior option.
I am not arguing that... although there certainly have been periods where gold has out performed property if people choose to cherry pick times and places...
My point is that the huge gap between property and gold yield is offset by the huge gap between holding and maintence costs. If you wish to talk long time frames.. then sure, 1000 years from now, the gold still remains.. the property has been replaced/repaired/maintained many times.... Yup, and the land remains, rezoned and more valuable... however in that period, it was not a free ride... rates, maintenance, rebuilds, extensions, demolishing, repairs all cost money.
I am simply pointing out that property costs money to hold
Amazing.
Quote:
My point is that the huge gap between property and gold yield is offset by the huge gap between holding and maintence costs
No it's not. Holding and maintenance costs on property are a tiny fraction of the rental income.
Over 100 years, a $1M home would collect $12,489,292 in rent, assuming 4% rental yield and 2% pa house price growth. That would pay for a lot of maintenance and holding costs.
No I didn't. I said you never said how much gold you own and that you are slippery. Totally different. Trying to avoid the question with a question isn't going to cut it. Utter crap.
Shadow
8 Dec 2015, 12:06 PM
A lot.<br /><br /><br />Amazing.<br /><br /><br />No it's not. Holding and maintenance costs on property are a tiny fraction of the rental income.<br />
FYI
Offset definition : something that counterbalances, counteracts, or compensates for something else; compensating equivalent.
Trollie
8 Dec 2015, 12:22 PM
Quote:
No I didn't. I said you never said how much gold you own and that you are slippery. Totally different.
Liar. What you actually said was :
"You have only said it makes up a small portion of your wealth. You are slippery that way. "
Quote:
Trying to avoid the question with a question isn't going to cut it.
Really ?
So you called me slippery for not giving details of my assets, but you are keen to avoid doing it also
Sounds slimy to me.
Quote:
Utter crap.
Indeed... so the gap between those two holding costs are not offset and maintence costs... really ?
Do you know what the word offset means ?
Quote:
The cost of storing a million worth of gold is $100 a month on bullionvault. property is hardly more than this
So that's what, 1.2K per year...
Well your property must be a shitty dump in a pretty shitty area ...
Mine costs 2.5K in rates alone, 1.5k in insurance, and about 1k in maintenance (not including any reno's or extensions we are doing which is about 20k this year). Gardens alone on my 1 acre cost us between $500 to 1,000 per year to maintain, but we do like gardening.
In about 50 years, much of the property would have to have been worked on.. in another 50 years, even more would have to have been worked on.
Mine costs 2.5K in rates alone, 1.5k in insurance, and about 1k in maintenance (not including any reno's or extensions we are doing which is about 20k this year). Gardens alone on my 1 acre cost us between $500 to 1,000 per year to maintain, but we do like gardening.
If you rented you'd still be responsible for the garden, so you can remove that cost.
If you rented you would not have the option to enjoy an extension or renovation, so you can remove that cost too.
So you're left with $5K per annum in actual holding costs. That's a lot less than it would cost to rent an equivalent property.
The bears always have contempt for women. This is not news.
If they had of listened to their clearly more intelligent wives and bought property, they would be better off.
here here
Double View was the forum vicar for bear preaching Armageddon and telling tales of children being eaten. He is filled with hate and anger because he did not get his Perth crash to end all crashes that he screeched from his pulpit.
Perth did not crash and is not crashing and now the vicar returns with a potty mouth thinking anything he say has any relevance to anyone.
Jimbo still sits adding thousands every month to his gambling stake and still he cannot find a house to buy at crashed prices.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
LOL, you sure do spend a lot of time writing about me. Yet despite all your efforts, you're yet to find any evidence of me lying or misleading.
But keep on chasing me, and perhaps one day you'll find the elusive proof that you seek...
I really don't have the energy to chase you about looking for your false or misleading statements but you conveniently still list point 6 in your signature. That is a false statement.
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