You might need to get one of those little hand mirrors Herbie and pretend you are riding a horse!
"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
OK. Not sure why you have your knickers in a twist then about house prices.
At a rough guess, you have about $2.5 million in cash and assets. Even if house prices dropped 50%, you would still have about $1.5 million in cash and assets.
Is that not enough? Does it need to be more? You could always grab your rifle and go out and rob some grannies if you feel hard up.
Maybe your health would be 76% reasonable if you stopped fretting so much.
I don't especially have my knickers in a knot about house prices up this way anymore.
Still reckon they're rather overpriced, but WTF, compared to alternative investments I can live with them - For me.
But wouldn't mind seeing them maybe 25% lower for the young Gen Ys in my family.
Whilst also accepting that may very well not happen. For reasons I'm pretty sure you're fully aware of.
Total assets are about $2.4 mill - So Yep, your guess was quite accurate.
Is that enough? Yes. But if the returns become significantly worse it may not be. We'll just have to wait 'n see.
As for "robbing some grannies" ( ) Nope, if I "feel hard up", I'll most likely (given my personal situation at this time) just scrounge up a bit of paid work locally of some sort - Though I'd rather NOT have to resort to such a desperate action ...
The Whole Truth
27 Sep 2015, 09:24 AM
Fuckwit.
newjez
27 Sep 2015, 07:48 AM
You might need to get one of those little hand mirrors Herbie and pretend you are riding a horse!
Total assets are about $2.4 mill - So Yep, your guess was quite accurate.
Maybe lying numpties get lucky every now and then.
Quote:
Is that enough? Yes. But if the returns become significantly worse it may not be. We'll just have to wait 'n see.
Jesus.
Quote:
Ah well, I just guess herbie's invite to the bears' picnic gets 'lost in the mail' yet again this year ...
You don't think prices will drop, so you are not a bear.
Personally, I have a plan either way. I've lived in countries where rising property prices crushed the economy, and I can see that process going on here in Oz right now. First the small businesses shut down, then unemployment rises, people see others losing their jobs or businesses, lose confidence and hunker down into thrift mode, which feeds into a cycle of small business decimation, unemployment, and eventually a house price correction.
But there is still quite a bit of the Keynesian version of insanity to go yet.
“Talk sense to a fool and he calls you foolish.” - Euripides
Maybe lying numpties get lucky every now and then.
Jesus.
You don't think prices will drop, so you are not a bear.
Personally, I have a plan either way. I've lived in countries where rising property prices crushed the economy, and I can see that process going on here in Oz right now. First the small businesses shut down, then unemployment rises, people see others losing their jobs or businesses, lose confidence and hunker down into thrift mode, which feeds into a cycle of small business decimation, unemployment, and eventually a house price correction.
But there is still quite a bit of the Keynesian version of insanity to go yet.
I've got no big issues with any of that. (Given you continue INSISTING on doing the personal Pathos thing ... )
'Cept I do allow for the possibility prices even up here could drop a bit - Though most likely will go up is my current general punt at this mo. But actually suspect prices could drop a reasonable amount on the specific little bit of the market my niece wants to buy into up here in about 3 yrs time.
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