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 think I am wise to eschew it up until now. I have the means to purchase but am aware of the stupidity and delusion that afflicts people involved in the Australian property market, stupidity that extends to both members of my own family, and the 2 naive fools in the OP.
Like Jimbo has stated, the property gravy train departed years ago, anyone levering up now without a decent job is looking at a lot of pain. What couples like this should have been aware of is that if there was easy money to be made in this sort of business a big corporation would have muscled them out with economies of scale by now.
And in answer to your other question yes I do covert home ownership, but only on terms that make financial sense, so with Sydney clearance rates faltering during a typically strong season, plus wage growth and rental yields dropping in tandem, and the vice tightening on hot money flows and investor lending, all with rates still at record lows, I now consider the stars aligned to signal the return of John Frum and his sacred affordable housing cargo, especially for those disciples that saved a considerable deposit and took the effort to skill up in a modern profession.
I have therefore recently hired a buyers agent to begin making enquiries.
Herbie - I sense a frustration brewing, perhaps to do with my recent tirades against you? You know, the ones where I call out your hypocrisy for espousing a socially caring side while at the same time bad-mouthing people like David Collier that propose land taxes which could genuinely help those for whom you have shed all these crocodile tears?
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
Recently we had to request that a large tree was removed from the backyard of our rental because it was beginning to die, which represented a danger to our children who played underneath it. It cost the landlord thousands.
Must have been a big tree. We have a couple of trees on the bank of our stream. We had them taken right back and they charged us £500. Interestingly I thought the trees were on rivers authority land. Now I have an email telling me I own to the middle of the stream.
Replaced our kitchen tap for £60 parts and labour. Cheap tap from lidl, but it's solid. Better than the designer crap the previous owners put in.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
You know Banks cant do margin calls on investment properties, not any property bought after 2010 or refinanced since then.
Correct Mike, but if you can't rent out or sell to stay afloat, they can call in the loan.
Of course they can call in a loan, mike is just being pedantic and comparing stock market rubbish with house mortgages. If you don't meet the repayments the bank can and always does, call in the loan and take the property off you. You don't see a lot of it though because of the cross collaterization with the ppor. The investor gets underwater and finally sells at a loss say and the difference is stripped out of ppor's equity. At the end of the day the bank still has its interest revenue coming in so all is well. One day though the market for old houses will lockup. Then we will see some action.
ggriff
20 Sep 2015, 11:57 PM
Give this couple 5 years and they may own half of Sydney,
They sure make shadow and sydneyskite look like rank amateurs with their few dogboxes. Every time a bull points at how smart couples like this are they are pointing to how stupid they are for not loading up on properties too. A bit of a disconnect there between what they do and what they say here on the forum I think...
"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
The Whole Truth The forum fucktard 20 Sep 2015, 06:05 PM I know you do all your own maintenance fwank but not everyone wants to get their elbows deep in shit. A licensed plumber wouldn't change a tap washer for less than $180 so we have to assume the $180 was to hire the snake and the camera was your smart phone duck taped to a broom handle.
I've whole taps replaced in IPs for well under $180, both item and labour.
Because I love showing everyone what a clueless fucktard this wanker is
Reminder for the forum fucktard as to what a FAIL he is
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
They sure make shadow and sydneyskite look like rank amateurs with their few dogboxes. Every time a bull points at how smart couples like this are they are pointing to how stupid they are for not loading up on properties too. A bit of a disconnect there between what they do and what they say here on the forum I think...
"The Sydney couple’s $3 million property portfolio includes homes in Sydney, the Blue Mountains, Central Coast and Queensland"
My portfolio is worth substantially more than theirs, and since my last purchase was six years ago, mine would have a significantly lower LVR.
My portfolio is worth substantially more than theirs, and since my last purchase was six years ago, mine would have a significantly lower LVR.
... and considering you've put in almost 10 years of hard labour trolling Internet property forums you've more than earned it sunshine.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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