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Property investors are suckers!
Topic Started: 1 Oct 2015, 05:00 PM (5,144 Views)
The Whole Truth
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So you post up some table with no identification or links and you expect us to take it at face value? Even if those figures were right rents have fallen in real terms.
Save us your cherry picked statistical rubbish sydneyBlight.

Here is the truth.

Rents fall in every capital city: CoreLogic RP Data
10 AUG 2015
http://mobile.abc.net.au/news/2015-08-10/rents-fall-in-every-capital-city-rp-data/6685706

Quote:
 


Rents fell in all eight capital cities last month, with annual rental growth of just 0.9 per cent the slowest over the past two decades.


Now crawl back into your hole, arsewipe.
"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
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Sydneyite
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The Whole Truth
5 Oct 2015, 11:42 AM
So you post up some table with no identification or links and you expect us to take it at face value? Even if those figures were right rents have fallen in real terms.
Save us your cherry picked statistical rubbish sydneyBlight.

Here is the truth.

Rents fall in every capital city: CoreLogic RP Data
10 AUG 2015
http://mobile.abc.net.au/news/2015-08-10/rents-fall-in-every-capital-city-rp-data/6685706




It's from Residex you Pillock!!! http://blog.residex.com.au/2015/09/29/september-property-market-update-3/

And what's more I am quoting ANNUAL figures - not dodgy / volatile monthly data.... and even the RP-Data figure you quote shows GROWTH in rents across the country over the past year.

Quote:
 
Now crawl back into your hole, arsewipe.
Why all the abuse? Do you hate being shown up all the time? Is that it? The more you post here the bigger the idiot you look. :re: I used to think you were just taking the piss, but the more you post, the more it becomes clear you are really just a double digit IQ moron with an overrated sense of your own capabilities. Or you are a bull plant designed to discredit the bears here?? Either way, I'm not going anywhere! :dry:
Edited by Sydneyite, 5 Oct 2015, 01:02 PM.
For Aussie property bears, "denial", is not just a long river in North Africa.....
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skamy
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Rastus2
5 Oct 2015, 08:15 AM
Not mad at all...

I know people whk bought on the gold coast against my advice when prices were surging and paid their mortgagenas required only to find that 5 years later their valuation was down, and they could have rented for far less only to buy at a cheaper rare for a lower price.

It happens, it is mad to make claims it does not.


I am not saying delay 25 years... you just use thwt example because a shorter time frams (say 1 or 2 years) can work against your claim.

How do i knkw this ? My first house was bought under advice ro buy now or nefer be able to afford... prices went up a bit longer and remained flat to dkwn for the next 7 years... renting and saving the gap would have been far wiser than buying and paying all the holding costs with a plan to buy again in a few years when it became a buyers market again.

In a sellers market, overpriced dumps are sold to desperate buyers... in a sellers market, excellent properties are snaped up well below market value by people who did their homework.
This is fine as long as you realize that this is speculation and it is low odds speculation with little to gain if you win and a lot to lose if your gamble does not pay off.



Firstly, the largest growth in a market prior to a crash is within the last year so the chances of anyone seeing a price drop more than a few % by waiting out a market is low. Secondly, the majority of markets tend to stagnate not drop in a downturn - witness the hundreds of countries and thousands of cities that did not crash after the GFC. Anyone waiting on those crashes is now nearly 9 years of rent money poorer. Even worse the crash speculators mostly waited too long and many are now seeing house price gains of 40% (never mind losses). These speculators lost opportunity to build wealth that will never return. The Sydney bears have lost $100s of thousands speculating on low odds crashes, people like Mr Frum are now so far behind their friends and peers who bought with the Rudd FHBG. They will never catch up that wealth without a lottery win and that is as low adds as their losing speculations on unlikely crashes.

So the stakes are too high and the rewards too little. In my view it is ridiculously stupid to gamble on house price falls - they just do not happen other than after massive booms as most people will hang onto their homes through thick and thin.


I have seen so many people gamble on a falling market since the early 1980s. They are so so sure prices cannot gain anymore yet I have never seen one person time the rare falls correctly.
However, I have seen many many people priced out of buying back into the homes they sold by waiting too long (sweetdish and TED are two such unfortunates on here) and I have seen many a bitter bear who is coming up for retirement with my age group with no home and they can only afford suburbs way way below those that their home peers paid off years ago.

Following the doomsters leads to many unhappy bitter angry lives, you don't have to stay a member for life. Get out before you become sour for life by sucking their bitter lemons.

:dry:
Edited by skamy, 5 Oct 2015, 01:57 PM.
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.
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Veritas
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Quote:
 
Firstly, the largest growth in a market prior to a crash is within the last year


Evidence?

Quote:
 
Secondly, the majority of markets tend to stagnate not drop in a downturn - witness the hundreds of countries and thousands of cities that did not crash after the GFC.


And why's that? Any clues for us?
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
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The Whole Truth
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Skamy's posts read like a property ramp from the early 2000's. Always a good time to buy.
"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
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GloomBoomDoom
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The Whole Truth
5 Oct 2015, 04:36 PM
Skamy's posts read like a property ramp from the early 2000's. Always a good time to buy.
Build it and they will come!
MSE
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Matthew
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The Whole Truth
5 Oct 2015, 11:42 AM
So you post up some table with no identification or links and you expect us to take it at face value? Even if those figures were right rents have fallen in real terms.
Save us your cherry picked statistical rubbish sydneyBlight.

Here is the truth.

Rents fall in every capital city: CoreLogic RP Data
10 AUG 2015
http://mobile.abc.net.au/news/2015-08-10/rents-fall-in-every-capital-city-rp-data/6685706




Now crawl back into your hole, arsewipe.
In real terms my residential rents are up around 12% in 4 years.

Who gives a fuck if they fall for a period after many periods of sustained growth?

You really are not very good at this investing thing are you?
My only hope for my three boys is that they turn out nothing at all like Chris.
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Suckers
1 Oct 2015, 05:00 PM
If I whack some numbers into a mortgage calculator to work out how much I could borrow on a 25 yr Mortgage at 5% p.a. for repayments to match my current rent, and excluding ALL other costs, I can borrow approx $300k. What the fuck can I buy with that in this market in Sydney? And what the fuck do I do about all those other costs?

On a cash flow basis alone, it makes 0 fucking sense mate. How about you attractive investors keeps subsidising my living costs, and make sure you fix the blind that just broke coz its old, and the heater, that died too, plz fix (urgently too, coz that’s the law bruddah). Oh, there’s a leak in the eves – yep, you get to fix that too. Lucky you’re so attractive!

Oh, by the way, I’ve decided to leave your rental and go to another at a lower price. Coz, you know, competition. Thanks though, have fun with no rental income for the approx 1 – 2 week changeover. Maybe you can take the time to replace the carpet that I damaged, but, because it’s older than 10 years, I don’t have to pay for my non-wear-and-tear damage coz, lol, it’s ‘worthless’ according to the ATO.

That ongoing mortgage repayment must make you feel all warm and fuzzy inside, especially now you’ve lost your FIFO job and are working 2 jobs, one packing shelves at coles, to make sure you can keep up repayments on your glorious mortgage.

Much <3 to you! Thanks for making sure my superfund made lots of money up until 2014 with those mortgage repayments to uber profitable banks. Too bad the party has to come to an end, but that's ok, we had a good run.

Maybe, in 5 – 10 years time, you can rent my place. I'll even give it to you at a discount. :D
Australia has some of the most landlord friendly laws in the world. The residentiary tenancy laws are just lipstick on a pig, even though they are effective enough for what they do, ie very little.

Most people don't want to buy.

Smart people know that renting here is like having teeth pulled.

Solution? Move to 100 other countries where tenants are regarded as normal and laws are there to protect tenants.
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The Whole Truth
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Don't let the door slam you in the back on the way out.
"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
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