Beware Mining Town Bulls - Perth and Darwin Housing Bubbles Ready To Burst!; Entire generation of speculators needs to be wiped out and made an example of
Oh deary me!! 6 months on from this statement house prices increased $10,000.
And Dimshit spent over $15k in rent thinking prices would crash.
Oh Deary me!!
Actually Matey, although the Perth median went up a bit, there is no way I would have realised my selling price in December 2014. But you only have my word for that.
Fast forward to today and I would be lucky to get 2/3rds of my mid 2014 selling price.
Conditions don't look great going forward either.
Higher unemployment, the locals finally accepting that there is not another mining boom just around the corner, lacklustre population growth.
Then you've got the state giving an extra $5k a year to FTB's to try and shift a few more blocks in Baldivis.
Not to mention a near record rental vacancy rate hammering the specufestors like yourselves.
And sales listings an eye watering 50% higher than when I sold.
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.
I wouldn't call Matthew a specufestor. He seems to have invested into realestate that provides a rental income. And he has paid down the mortgages.
A specufestor would be someone who takes an interest only loan to buy an empty unit off the plan.
I just think matthew is undestimating the weakness of Perth rental market. And i think he's wrong to advise people to buy in Perth at the so called median price. If he was telling people to buy now by driving a very hard bargain that would be fine.
I wouldn't call Matthew a specufestor. He seems to have invested into realestate that provides a rental income. And he has paid down the mortgages.
So he says.
He tries to give the impression that he is a slow and steady kind of guy who has built up a sensible portfolio over a number of years.
Then he lets slip that he has a foolproof system on the nags and bets on every race on the card?
And he runs his own blog simply to carry on arguments he started on Perth Now once an articles comments have been closed.
If I had a property empire built up when houses cost 10 cents each, I wouldn't be wasting so much time and energy trying to convince everybody to keep the market going that bit longer.
If Matey had what he claims he has, then a 50% drop in values wouldn't hurt him one bit (he's never going to sell apparently).
So why the bloody obsession?
Almost as though he put his shiirt on the Perth market a few years ago and is now doing the only thing he can do. Trying to convince others to to become the greater fool.
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.
Actually Matey, although the Perth median went up a bit, there is no way I would have realised my selling price in December 2014. But you only have my word for that.
Your word is worth $0.15 in the $1.
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Fast forward to today and I would be lucky to get 2/3rds of my mid 2014 selling price.
Need to take your word for that as well. Equally as valuable.
deluded
12 Jan 2017, 03:52 PM
I wouldn't call Matthew a specufestor. He seems to have invested into realestate that provides a rental income. And he has paid down the mortgages.
A specufestor would be someone who takes an interest only loan to buy an empty unit off the plan.
My wife and I are genuine overnight success stories. Just took 22 years to happen (from debt day one to debt day none).
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I just think matthew is undestimating the weakness of Perth rental market.
I am not underestimating anything. The Perth market is weak. I would had to own property outside the boundary that I have indicated on several occasions (north or Roe, south or Reid, west of Tonkin). People have always rented. Always will. But while when markets are hot the fringes are ok when they are soft the fringes are a blood bath. People trade up. Live in better suburbs for the same money. The key is to own in the suburbs people want to rent in. Otherwise you end up with smug f***s like Dimshit as tenants.
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And i think he's wrong to advise people to buy in Perth at the so called median price. If he was telling people to buy now by driving a very hard bargain that would be fine.
I have never advised anybody to buy in Perth at any price. My advice has always been the same. If you want to buy and can afford to buy, then buy. If you want to buy and cannot afford to buy then don't buy.
But there are always people who don't buy waiting for a crash. Those people usually end up disappointed and bitter. Guys like Dimshit, Chris, Hidflect, Simon. Those guys.
Jimbo
12 Jan 2017, 04:03 PM
So he says.
You will have to take my word for it Dimshit. But unlike your word which is worth cents in the dollar, mine returns $1.00.
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If I had a property empire built up when houses cost 10 cents each, I wouldn't be wasting so much time and energy trying to convince everybody to keep the market going that bit longer.
I am not trying to convince anybody of anything (outside of your stupidity but that project ended 2015)
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If Matey had what he claims he has, then a 50% drop in values wouldn't hurt him one bit (he's never going to sell apparently).
Correct.
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So why the bloody obsession?
I have a significant investment in property (residential and commercial). You have no investment whatsoever in either. Yet you post here 50% more than I do (450% once your socks are factored in). You question a person with skin in the game commenting yet you are one of the most prolific.
Just because someone can afford to buy it doesn't mean they should. Are you saying that potential FHB should ignore the current and quite obvious declines instore for Perth and buy just because they can afford to. That's your best financial advice, burn 10-20% of your purchase price along with the additional interest you'll pay on that figure just because you can afford to buy?
Just because someone can afford to buy it doesn't mean they should.
If you can afford to buy and don't want to buy, don't buy. Life is full of choices mate.
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Are you saying that potential FHB should ignore the current and quite obvious declines instore for Perth and buy just because they can afford to.
Are they they obvious? How much will they be?
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That's your best financial advice, burn 10-20% of your purchase price along with the additional interest you'll pay on that figure just because you can afford to buy?
Given there is no guarantee that they will burn 10-20% of their purchase price is your best advice to rent for as long as it may take for such a fall to occur if it actually does occur?
Look at the numbers kid. Buy a house today for $500k and start paying it off, or rent an equivalent dwelling for 2 - 3 years at $400 a week and spend $21k per annum on rent to maybe "save" $10k on the purchase price.
Is that your suggestion? Maybe spend $60k to save maybe $10k if prices fall as you hope they will?
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Man you are just strange
Man you are stupid.
My only hope for my three boys is that they turn out nothing at all like Chris.
Just because someone can afford to buy it doesn't mean they should. Are you saying that potential FHB should ignore the current and quite obvious declines instore for Perth and buy just because they can afford to. That's your best financial advice, burn 10-20% of your purchase price along with the additional interest you'll pay on that figure just because you can afford to buy?
Man you are just strange
You are the one saying that buyers should ignore the fact that over the past 6 decades the Perth market has grown at almost 10% per annum. You are telling people to expect a crash when property prices have not grown since 2007.
It bellies belief that some people can be so stupid. Perth is a buy opportunity, it is a slow market with plenty of keen sellers, plenty of time to do due diligence and prices and affordability are better than they have been since 2007.
The WA economy drives the national economy not just with iron ore - but agriculture, and mining of just about everything, plus oil and gas.
Is WA having a great year for exports? absolutely. How can people fall for the doomster shit and miss this opportunity. Perth may not be at bottom but it cannot be far off and who wants to be sitting renting when this market turns.
You are making the same mistakes you made for the Eastern shore markets. You are stuck spending too much time listening to doom and gloom and this is creating massive fear in you that completely overestimates risk.
Are you gonna be a lost cause doomster Chris?
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.
You are the one saying that buyers should ignore the fact that over the past 6 decades the Perth market has grown at almost 10% per annum. You are telling people to expect a crash when property prices have not grown since 2007.
It bellies belief that some people can be so stupid. Perth is a buy opportunity, it is a slow market with plenty of keen sellers, plenty of time to do due diligence and prices and affordability are better than they have been since 2007.
As a simpleton you don't understand compounding losses, Perth may have gained 60% in 6 years but to lose all those gains prices only have to fall 35-40% from today's higher prices. You are really quite lost when it comes to understand your exposure and the real risks that are clear to everyone else when looking at Perth.
In 2014 you spent a significant portion of this thread stating a decline in Perth house prices would never happen, a slow down at best was indicated by you. You then ranted post after post as to how strong Perth was and how it was the backbone of the national economy with no end in sight. You were horribly wrong and by the time the next 12 months click over you will probably be broke because your own blind faith will see you hold on till the end.
I reckon you should sell every IP you have in Perth Skamy and bunker down in your PPOR until it's over. Not advice just an opinion
I used to go out with a girl who ended up marrying a mate of mine and they settled up in Karratha in the 80's.
They bought a typical fibro on a decent sized block, paid down the mortgage and in 2012 sold up and moved back to Perth as her mother was in poor health and in her words "the place was going to shit with all the blow ins".
A developer bought their place, knocked it down and subdivided. The developer did very well.
As for my ex girlfriend and her hubby, they brought back over 2 million bucks in pure equity. They spent 900k on a nice place in Bicton and invested the rest.
So property and circumstance can make you an absolute mint if you time it right. Their timing was more by luck than design though.
They made their money by getting out when everyone else was trying to get in.
But after all, in any market, that is how you make money.
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