Most people in Ireland Spain and Greece will resume life as usual as the recession recedes, in 10 years time these paper loses will look ridiculously small compared to the long term price growth. All that happened is a huge redistribution of wealth from the young and the poor to the cash rich and the super wealthy.
Look at this chart and then tell me that buying a house in Ireland in 2006/07 represented good financial sense. You are a laughing stock.
Quote:
Chris there are no population declines only a few hundred of the 10s of thousands who moved to WA over the past 5 years are returning interstate. The population is growing in WA and growing faster than most other states. You need to live in the real world and stop believing doomster cult lies like this.
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
Whilst it has been highly entertaining observing Matthew continually shooting all of the fish in the barrel dead on this thread, it has become obvious that there are no big fish too come. I fear that Matthews marksman skills are in danger of dropping off due to the non challenging environment that he is currently operating in.
Look at this chart and then tell me that buying a house in Ireland in 2006/07 represented good financial sense. You are a laughing stock.
Your disdain for facts is stunning.
Go and look at the data Veritas - 10s of thousands moved interstate and look at the paltry numbers heading home - despite the huge wind down of the big projects.
WA is still growing in population and most people who moved here are staying here - you are a dishonest poster if you deny this.
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.
Whilst it has been highly entertaining observing Matthew continually shooting all of the fish in the barrel dead on this thread, it has become obvious that there are no big fish too come. I fear that Matthews marksman skills are in danger of dropping off due to the non challenging environment that he is currently operating in.
I feel you are a sperm recieptical known as a sock, you are suitably stained and like Matthew in need of a good cleansing.
Don't work in China fuckwit, just source a lot of product from there like most companies in Australia. That all you got, or do you want to make an actual point? No Jimbo, there are kids, the elderly and disabled that can not or do not work. Then there are 1.4m people with jobs Jimbo. That is 1.4m people with a disposable income. Some will spend it on rent, some will spend it on investments.
You are either so fucking stupid that you do not understand the impacts of only selling 50 blocks a week, or so blind by your need to show your wife that you are right that you can not bring yourself to acknowledge it.
Hang on, that's right, you are a Construction Engineer - the most stuck up arrogant expert on everything cant be taught anything c unt of a profession that there ever was.
Surely his wife would be pissed off that he sold up in their bogan burb All that moving and packing ...
Shiite.
At least those chemical engineers are down to earth.
Matthew
21 Aug 2015, 04:01 PM
I am sure I am not the only person here who is successful that posts on APF. Jimbo for example is apparently very successful major shareholder in Australia's only business without creditors, and he posts twice as much as I do. Peter is apparently the South Wests largest hotel and farm land owner and he posts here more than I do.
Basically all that post does Chris is acknowledge that you personally are not successful. what the fuck are you on about? what the fuck are you on about? How do you figure I am in any trouble? Mate I couldn't be happier. Not buying, not selling. Don't care if prices rise, don't care if they fall. Limited debt that will be gone in a few more pays.
Life is good when you are not a miserable fuck who needs economic misery to occur just so he can say he was right, after which you will still be fucking miserable because you will probably also not have a job, and have no assets to liquidate to keep you going.
Winner you are mate. Dead set winner. Sorry, make that whinger.
It Does not know a damn thing.
Except literacy plagiarism.
Jimbo
21 Aug 2015, 04:48 PM
Mathew Gary on a soapbox?
More like a hand carved rosewood podium if you don't mind. It's the adult version of pulling the legs off a spider. Pointless fun.
Really ? Who is fictional.??? I once offered to meet with you and aimed to assist in the home inspection. But hey never mind ... I'm supposed to be mentally unstable and aimed to hit your cranium with an axe...
Do tell me who is really hiding?
You've got a lot to hide haven't you honey dummy.
Matthew knows what he's been doing with his investments for many yrs I have confidence in that.. And I hope it continues to do him and his family well... The differences is I've had initial assistance in setting up with property and had to learn to do it on my own in financing get rid of debts and eventually had some more freebies through simple land transfers to develop more over time. That's the way it goes for some.
Better locations, better development better money for those who are not dummies like you. Just telling how it is honey.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Whilst it has been highly entertaining observing Matthew continually shooting all of the fish in the barrel dead on this thread, it has become obvious that there are no big fish too come. I fear that Matthews marksman skills are in danger of dropping off due to the non challenging environment that he is currently operating in.
I feel you are a sperm recieptical known as a sock, you are suitably stained and like Matthew in need of a good cleansing.
Yes it's a sad ol day when sockpuppets have to tounge each others holes on the forum.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
But when there's opportunity and parents who have previously done extremely well in their properties managing their properties over many yrs..better than the bloody agents..one can learn a lot. Well they set certain precedents... Financially speaking...
Try not to underestimate who is really stupid. Each to their own as to how it simply is.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Jimbo I owe less than 2% of the current net value of my residential properties. All of my shares are owned outright.
So says a sock who plagiarises stuff of the web to make himself appear smart. No one believes you word you say idiot Now stop trolling on the net and get back in the lounge with your fat ugly wife before you get in trouble again
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Meanwhile, I have zero debt. I owe nothing to anybody. Everything I have belongs to me. Cars, boat, Gold, furniture, appliances, shares, bonds, cash. Nice..
I seriously find that hard to believe. There's a difference to not wanting to lose their $$ to worrying about their sense.
Andrew Judd
21 Aug 2015, 04:41 PM
Why are you all spending so much time and energy convincing yourselves you are right while talking to a troll or psycho??
I have noticed you soo ignore me.. Not fussed but why do you spend time looking at perth stuff? You sixty old baboon.Just one more thing Jimbrooo That comment you make about the " quick rich brigade" ??? That's you . You associate with the buffoons.. Peacocks who strut their instant wealth in the boom times.
There's those more financially established biznesseses and individuals who for many yrs ways before the FIFO bogan crap mAking their instant $$$ than that have neurons in all aspects not just financially.
The Whole Truth
22 Aug 2015, 12:16 AM
So says a sock who plagiarises stuff of the web to make himself appear smart. No one believes you word you say idiot Now stop trolling on the net and get back in the lounge with your fat ugly wife before you get in trouble again
Can you pretty please tell me who is pulling my strings too? Oh wise one.
I have asked you this soooo many times.
Tell me who .... Or do I really have a brain... Noooooo how dare I
See ya nighty night you old divorced man. You have no lady don't you? Getting personal I know, but I don't think I'm wrong.. Call it intuition. Oh well...
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
I have a bit of interest in property as it has served me well in the past. But early on I got a bit burnt.
I bought at the peak of the UK market in 1988 just after I had moved from Australia to England. It was a while before I could sell and I struggled with the mortgage for a while (14% at one point) but in the end I got out and back in again when it was quiet. Between 1999 and 2007 I made a killing on buying and selling houses. Never rented one out, only owned one at a time. Buy, do up and flip for a fat profit.
From being burned in the past, I leaned to recognise the signs. Irrational exuberance, coffee machine chatter, everyone talking about their houses being their pensions.
People were talking like that in England from about 2006 onwards. I knew the end was coming for the UK property boom.
In 2007 I liquidated and moved to Perth where I paid cash on the nail for a reduced price place at the tail end of the year (when the market was going quiet).
By late 2013, I was hearing louder chatter from the property owning classes about a new boom, doubling every 7 years, gas becoming the new iron ore, massive infrastructure projects on the horizon (Skamy talk).
So I got out.
I gain nothing from being here. I can't influence the market up or down.
I am not insane like Mathew, Skamy, Shadow and all the others who believe that they can influence a market by posting on a blog.
skamy
21 Aug 2015, 06:13 PM
You say you have done well so far on currency bets but the big currency wins are over for a while - if anything the AUD is more likely to rise than fall ATM. Meanwhile, you are wasting money on rent and by now you must see that there will be no crash. Quit while you are ahead there are still plenty of bargains around - why be greedy? But you have not got a home Jimbo and sooner or later playing around with cash and currencies and other speculative bets will bite you in the bum.
There will be no crash Jimbo - just do not hang onto that doomster nonsense for so long that you get priced out of your own suburb. It will happen and my knowledge of the near future in Perth tells me that this will be sooner rather than later.
If prices start to take off again, I will see it happening and I can buy in. If I miss the boat, and prices go up 20%, I will have to buy 20% less house. Thing is Skamy, the worst that can happen to me is that I end up buying a slightly smaller place for cash.
Or I could just rent somewhere really nice for the rest of my life and let my cash etc. do some work for me (like it is doing now).
But what will happen to you if prices drop?
What happens to a margin debt play when an asset goes south?
What will happen to your theoretical wealth when the pyramid falls down?
Abject poverty and unpayable debt?
That is why you are on here isn't it? Scared shitless.
That is why Mathew, Blondie and the rest of you are on here.
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.
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