If you had bought the first one at first offering, you would have lost 20k.
That's a chunk of change.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
It's amusing that in neither this thread, nor last years, do the members who voted "next quarter" or "next year" ever post that they voted for those options, or explain thier rationale?
Funny stuff coming from you
And you ask for rationale, is this some kind of joke. Collapsing buisinesses, collapsing jobs, collapsing economy, interest rates at lows not seen since the great depression. Used every singles measure known to pump house prices , yet most are down on 2010 highs and Sydney has barely kept up with inflation using allthese tricks and record lows rates and this is all they could achieve. Meanwhile jobs are dissapearing faster than ever.
But apart from what you just wrote (and most of what you write) being complete, unsubstantiated rubbish, you can't even vote in the poll in question, as you post as a guest!
So my point still stands. No one willing to actually come out and "call" the imminent crash, even though many voted for that option in the poll - just like last year's effort. I suspect the fear of ridicule + a deep know belief that the market is not going to crash by next year is what drives this phenomenon.
For Aussie property bears, "denial", is not just a long river in North Africa.....
In other words, you have no response. Just reiterate your earlier rant instead of responding to my points.
You seem to know nothing of risk management, nothing of long term planning, nothing of cashflow management. You don't understand the cyclic nature of the property market, nor the value of renovation or development. You clearly don't understand how investors use yield to support borrowing and how this changes over time due to inflation and market changes.
Why are you even here? You're so far out of your depth it's embarrassing.
Have no response, what are you talking about stinky, I just showed you prices and rents in Canberra are crashing. Yet you want to sit there and play the fool
I have invested and owned property longer than you stinky. If you must know, just recieved my mortgage statement today. Closing balance shows ,$11,342 owning. But you think you know everuthing stinky. All youown is a shitload of debt on eight or do houses going down in both price and rents and falling faster than they ever have, again while rates are at records lows.
Keep it coming stinky, your just educating all the sheep out there, which is the whole idea.
And you ask why am I here and thay I am out of my league.
It is you that is clearly out of your leaugue as you are stuck in yesteryear and dismiss all reality around you.
And your comment why am I here. You know I am glad you bought this up.
I tell you why I am here, to educate people as to what if really happenining so they are not sucked in by all the bullshit they are fed bybthe government and vested interest media spriuking bullshit.
The REAL question is, why on earth are bulls here. Lets take a closer look. If bulls think that the economy is fine and that house prices are not at risk and will just keep rising like always , whu are they even here. If they think we are all dopes and are jibbering shit , why would they even waste their time arguing with such people. Why have people like shadow and peter donated their life to this property forum, I won't even elaborate on what that is bordering on.
So you know why I are here. Now honestly , why are the bulls here pushing their agenda, if they think the bears are full of shit and that housing is fine.
But apart from what you just wrote (and most of what you write) being complete, unsubstantiated rubbish, you can't even vote in the poll in question, as you post as a guest!
So my point still stands. No one willing to actually come out and "call" the imminent crash, even though many voted for that option in the poll - just like last year's effort. I suspect the fear of ridicule + a deep know belief that the market is not going to crash by next year is what drives this phenomenon.
Unsubstantiated rubbish you claim. Is was all fact, feel free to peel them off, one by one and explain what's not.
We saw you rubbish only weeks ago when we were talking things you had no clue on yet pretending otherwise, only to be pointed out how wrong you were by both bears and bulls
The crash has already begun
What are you saying, that there is no crash coming, just like all these experts thought below, just like you guys thought too. These were so called experts below , what chance would you clowns have.
Have no response, what are you talking about stinky, I just showed you prices and rents in Canberra are crashing. Yet you want to sit there and play the fool
No you didn't, you linked articles that show general data across a city. Those aren't MY properties. You can't even see this basic difference. Not all property is created equal.
Personally I doubt you've been investing longer than me - what year did you start?
You were saying this when you panicked and sold your Sydney home in 2012.
But Sydney house prices are now up 25% since then.
The only thing that crashed was gold.
I have been saying it for just over five years if you must know, and why do you keep saying I sold in 2012, it was 2011.
I have held multiple Sydney property for a couple of decades shadow. And am only a couple of years younger than you. My current mortgage has less than 12k owing as of today's statement. Three monthly payments and no more mortgage.That's two paid off shadow in Sydney, I am what , three years older than you. What have you achieved. Not much paying interest only all these years
So let me ask, what were you doing all those years I had multiple Sydney properties rising for near two decades, when you had nothing at all. You only bought your house in 2005, and purchased an IP in 2009 and have been paying interest only ever since. Financially shadow, your are two decades or more behind me and only a few years younger, apparently. You missed the boat and pay interest only loans, need I really say anymore, the reality was spelt out above.
Sydney prices have barely covered inflation since 2010, and all other capitals are down and have not even covered inflation over that time , let alone rise. To achieve such a poor result, we have thrown everything including the kitchen sink at prices and dropped rates to lows not seen since the great depression , record lows.
And now with the economy and jobs collapsing like never before, you think it will get better, shows your just a fool who discards everything that does not entertain your fantasy.
So you know why I are here. Now honestly , why are the bulls here pushing their agenda, if they think the bears are full of shit and that housing is fine.
Simple, fear.
They are leveraged and in debt. Trolling with like souls makes them feel better.
You've been saying prices are crashing for the past five years? Does it not get embarrassing after a while?
Um... they're up about 25% since then... and over 50% since 2005...
No, back then I was just saying that it will happen and that the economy and jobs will just keep declining from here on and that things will become worse that we have ever seen. Boy did I have to deal with some flack back then, and I was even holding back from what I was saying because it was too much for some to except or comprehend. But the things I said back then are just mainstream articles these days. I explained record business closures, record job losses, record low interest rates , it was like trying to explain thay the world was round for the first time, and asked the question, are how prices going to crash in the near future.
That was in April 2009. A thread at the time that had over 120,000 views and over 4000 posts before it was closed down to the public for the last time in around oct 2011.
Things dont happen overnight shadow, and its hard to put an exact time frame on these things.
How long were they saying it in the UK , US and euro before it collapsed there ? How long?
Now , grow a pair and go back and address every other reality I mentioned in my post, not some cherry picked section you think you have half a chance with.
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