Welcome Guest [Log In] [Register]


Reply
Foxbats new prediction; House prices and all assets to come under pressure
Topic Started: 25 Nov 2015, 06:17 PM (59,400 Views)
newjez
Member Avatar


Matthew
11 Dec 2015, 11:55 PM
you might be right.

You have no idea at all what you are talking about dumb f uck I mean kid. Rent has always been cheaper than buying. Does not make it smarter.


Shit grammar aside I am aren't I? I mean when I said I was buying my first house all of my mates told me prices would fall I bought. And when we bought our second house all of my mates told me I was fucking dumb not to sell the first one. And now I am sitting here in my house in Applecross with 4 debt free IP's paying off the remnants of a tiny mortgage on a MM property in a dress circle location.

I should have listened to the smart people like you shouldn't I? Never should have bought the first one. Let alone 4 of the c unts and a massive home in a prime local. How dumb am I right? Right? Imagine if I just rented and never invested in anything other than gold......

You are clueless kid. Stop your fucking moaning and piss or get off the pot. If you want to buy, buy. If you don't want to buy, don't buy. Just stop being a fucking bitch about it. Prices will never meet the point you think you are entitled to. Got $300k to spend? Buy in Gosnells and suck it up. Got $600k to spend, buy an apartment in Burswood, Maylands or Vic Park and suck it up. Just stop being such a fucking pussy.
To be fair Matthew, when I bought my first house, the possibility of it falling in value had never occurred to me. Nor had it occurred to anyone else I knew. It was what you did. There was a worry I could lose my job, and I'd have to sell it. But the idea of losing money on property is a relatively new thing. It happened when housing became a speculative investment. We are the lucky ones. (and our kids of course)
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


newjez
12 Dec 2015, 02:14 AM
To be fair Matthew, when I bought my first house, the possibility of it falling in value had never occurred to me. Nor had it occurred to anyone else I knew. It was what you did. There was a worry I could lose my job, and I'd have to sell it. But the idea of losing money on property is a relatively new thing. It happened when housing became a speculative investment. We are the lucky ones. (and our kids of course)
I have only ever bought houses to live in. I have made a mint by doing so, but not because I am a clever investor.

I just happened to have moved to the right places at the right time, watched the market rise around me and then sold and moved on to something else. Each time, my house has got better and ended up being worth more than what I left behind.

It wasn't a deliberate thing either. I didn't look for potential growth areas. We just moved because we found that we could buy something bigger and better for less than what our current place was worth by simply moving house.

1996 to 2013 were brilliant times to do this. Some places doubling in value in a few years whilst other hardly moved. Move from an area that has doubled in value to an area that hasn't and pretty soon, you will find yourself doubling your assett value every few years.

The property seminar types soon cottoned onto this and the early 2000's saw a plethora of spruiking TV shows hitting the screen. In the UK, Property Ladder, Grand Designs, A Place In The Country, A Place In The Sun, Homes Under The Hammer.

All showing couples buying places for a song, doing a bit of decorating and retiring rich on the proceeds at 30.

A new profession was born. The "Property Developer".

Anyone can be one. Go to the bank, borrow a shit load of money to buy a 3x1, rent it out to someone who can't compete with you as a buyer. Buy a few more.

Hey presto, you are a "Property Developer".

You are the toast of the barbie as you compare portfolios.

It works. It worked for Twatty, Blondie, Skamy.

Their portfolios are worth millions if things carry on as they did in the years leading up to them buying their IP's.

But things haven't carried on. And they won't.

That's gotta hurt..





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.
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Tick tock
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
Chris
Default APF Avatar


Matthew
11 Dec 2015, 11:55 PM
You have no idea at all what you are talking about dumb f uck I mean kid. Rent has always been cheaper than buying. Does not make it smarter.


Where did I say it was the smarter choice?

You however tell the Doc 'you might be right' insinuating that renting in Perth maybe the smarter option, you must be getting dizzy chasing your own tail. You are an embodiment of a load that should have been swallowed.

Besides, I never said it was the smarter choice, in fact because you are an immature pubescent turd you completely missed the point, again!
Profile "REPLY WITH QUOTE" Go to top
 
Steve99
Default APF Avatar


Matthew
11 Dec 2015, 11:55 PM
you might be right.

You have no idea at all what you are talking about dumb f uck I mean kid. Rent has always been cheaper than buying. Does not make it smarter.


Shit grammar aside I am aren't I? I mean when I said I was buying my first house all of my mates told me prices would fall I bought. And when we bought our second house all of my mates told me I was fucking dumb not to sell the first one. And now I am sitting here in my house in Applecross with 4 debt free IP's paying off the remnants of a tiny mortgage on a MM property in a dress circle location.

I should have listened to the smart people like you shouldn't I? Never should have bought the first one. Let alone 4 of the c unts and a massive home in a prime local. How dumb am I right? Right? Imagine if I just rented and never invested in anything other than gold......

You are clueless kid. Stop your fucking moaning and piss or get off the pot. If you want to buy, buy. If you don't want to buy, don't buy. Just stop being a fucking bitch about it. Prices will never meet the point you think you are entitled to. Got $300k to spend? Buy in Gosnells and suck it up. Got $600k to spend, buy an apartment in Burswood, Maylands or Vic Park and suck it up. Just stop being such a fucking pussy.
'' Applecross with 4 debt free IP's paying off the remnants of a tiny mortgage on a MM property in a dress circle location. ''

sounds like a made up story to me.. these places could not have paid themselves off in such a time frame and then bought a house in Applecross (say $1.5mill) on top with the proceeds. Sounds like the sort of talk from a con man seminar. This could be done if you and a wife say both had $200kpa jobs which you fed into it but not on median to average wages or perhaps a massive inheritance which you quietly forgot to mention,, I say this cause I know at least 2 couples who claim hard work but the reality was they were left a fortune and it would spoil the story to admit a free financial ride here and there.
Profile "REPLY WITH QUOTE" Go to top
 
Matthew
Default APF Avatar


newjez
12 Dec 2015, 02:14 AM
To be fair Matthew, when I bought my first house, the possibility of it falling in value had never occurred to me. Nor had it occurred to anyone else I knew. It was what you did. There was a worry I could lose my job, and I'd have to sell it. But the idea of losing money on property is a relatively new thing. It happened when housing became a speculative investment. We are the lucky ones. (and our kids of course)
I agree with almost all of that. But property prices falling is not a relatively new thing at all. Prices have both risen and fallen in periods since the dawn of time.

We bought our first house because we wanted to live in our own house. Price growth did not even enter into the thought process. My wife and I wanted our own house, and we wanted to be able to do what we pleased with it. We were aware that prices may rise or fall, but that was not a driver. If you were scared of asset devaluation you would never buy a car let alone a house or shares.

Our rent was about $250 a week, we went to pay $550 a week - more than double our rent in mortgage repayments.

I don't consider I was lucky - I made decisions and worked hard to fund them.

The kids today are incredibly lucky. Their wages and salaries are far larger than when we started out. I employed a Commerce Grad last week on $65,000 with 9.5% super. I graduated on $22,000 with 5% super. Graduate wage growth has exceeded CPI and WPI significantly.

What kids today want is something equal to or better than what they live in with their parents. They aren't willing to take the journey, they want to launch straight to the end game. It frustrates the shit out of me.

Right now in Perth there are over 3,250 properties in Perth available for $400k or less. That is less than $500 per week to own your own home. $500 per week in rent does not get you a palace. Hopes of a price crash and desire to live in something better than they can afford are impediments to the youth of today, not wages or availability of affordable properties.
Steve99
12 Dec 2015, 12:53 PM
'' Applecross with 4 debt free IP's paying off the remnants of a tiny mortgage on a MM property in a dress circle location. ''

sounds like a made up story to me.. these places could not have paid themselves off in such a time frame and then bought a house in Applecross (say $1.5mill) on top with the proceeds. Sounds like the sort of talk from a con man seminar. This could be done if you and a wife say both had $200kpa jobs which you fed into it but not on median to average wages or perhaps a massive inheritance which you quietly forgot to mention,, I say this cause I know at least 2 couples who claim hard work but the reality was they were left a fortune and it would spoil the story to admit a free financial ride here and there.
We purchased our first house for less than $200k and we paid it off. When we moved to our second house for less than $400k and we paid it off with our salaries and the rent from the IP. When we purchased our third IP we had the rent of 2 IP's and our own former mortgage payments knocking off the debt.

When we owned the three we purchased a 4th. We paid that down at a rate of $3,000 per week and paid it off in 5 years.

This has not happened overnight. We have put 20 years into this. I have never said you get rich in property quickly. You get rich slowly like every other option.

You are right it is all made up though isn't it? I mean absolutely nobody has ever done it before have they? There is no way that having rents coming in from multiple sources will assist you in generating wealth. Don't listen to me at all, it is impossible isn't it? Just rent and buy gold. That is the only path to true wealth. :re: :re:

Quote:
 
This could be done if you and a wife say both had $200kpa jobs which you fed into it but not on median to average wages
Not true. But I have never claimed to earn only the average wage, far from it.
Chris
12 Dec 2015, 12:41 PM
Where did I say it was the smarter choice?

You however tell the Doc 'you might be right' insinuating that renting in Perth maybe the smarter option, you must be getting dizzy chasing your own tail. You are an embodiment of a load that should have been swallowed.

Besides, I never said it was the smarter choice, in fact because you are an immature pubescent turd you completely missed the point, again!
You are getting angry kid. Go have a lie down.

Here is some free advice for you - life is full of choices. Don't blame others for the shit ones you make.
Jimbo
12 Dec 2015, 06:19 AM
I have only ever bought houses to live in. I have made a mint by doing so, but not because I am a clever investor.

I just happened to have moved to the right places at the right time, watched the market rise around me and then sold and moved on to something else. Each time, my house has got better and ended up being worth more than what I left behind.

It wasn't a deliberate thing either. I didn't look for potential growth areas. We just moved because we found that we could buy something bigger and better for less than what our current place was worth by simply moving house.

1996 to 2013 were brilliant times to do this. Some places doubling in value in a few years whilst other hardly moved. Move from an area that has doubled in value to an area that hasn't and pretty soon, you will find yourself doubling your assett value every few years.

The property seminar types soon cottoned onto this and the early 2000's saw a plethora of spruiking TV shows hitting the screen. In the UK, Property Ladder, Grand Designs, A Place In The Country, A Place In The Sun, Homes Under The Hammer.

All showing couples buying places for a song, doing a bit of decorating and retiring rich on the proceeds at 30.

A new profession was born. The "Property Developer".

Anyone can be one. Go to the bank, borrow a shit load of money to buy a 3x1, rent it out to someone who can't compete with you as a buyer. Buy a few more.

Hey presto, you are a "Property Developer".

You are the toast of the barbie as you compare portfolios.

It works. It worked for Twatty, Blondie, Skamy.

Their portfolios are worth millions if things carry on as they did in the years leading up to them buying their IP's.

But things haven't carried on. And they won't.

That's gotta hurt..





Your latest story counters previous claims you have made. Time to start that word doc dimbo.
Edited by Matthew, 12 Dec 2015, 01:05 PM.
My only hope for my three boys is that they turn out nothing at all like Chris.
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Matthew
11 Dec 2015, 10:43 PM
after years of paying down their loans, and with Christmas looming, the many take advantage of their strong financial position.

Meanwhile tenants still have to pay 100% of their rent.
Those rose colored glasses suit you.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Matthew
Default APF Avatar


Ex BP Golly
12 Dec 2015, 01:17 PM
Those rose colored glasses suit you.
I think there are considerable challenges facing the country at the moment, it isn't rosy at all. But a quick look outside reveals the sky is the exact same distance from earth as always. The world is not ending.

People will create opportunities. Others will bitch, moan and pray for a property price crash. The "others" will continue to be disappointed.
My only hope for my three boys is that they turn out nothing at all like Chris.
Profile "REPLY WITH QUOTE" Go to top
 
deluded
Default APF Avatar


Matthew
12 Dec 2015, 01:21 PM
I think there are considerable challenges facing the country at the moment, it isn't rosy at all. But a quick look outside reveals the sky is the exact same distance from earth as always. The world is not ending.

People will create opportunities. Others will bitch, moan and pray for a property price crash. The "others" will continue to be disappointed.
I think the latest version of your message is quite fair.

I'd just allow for the possibility that people's attention will shift away from real estate as an investment. I think that a large part of real estate is cultural. And cultural norms certainly change.
Real Trump News -- Real Climate Science News -- Real Democrat Party News
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Chris
12 Dec 2015, 12:41 PM
Where did I say it was the smarter choice?

You however tell the Doc 'you might be right' insinuating that renting in Perth maybe the smarter option, you must be getting dizzy chasing your own tail. You are an embodiment of a load that should have been swallowed.

Besides, I never said it was the smarter choice, in fact because you are an immature pubescent turd you completely missed the point, again!
Do you think Mathews is a bit slow???
deluded
12 Dec 2015, 01:53 PM
I think the latest version of your message is quite fair.

I'd just allow for the possibility that people's attention will shift away from real estate as an investment. I think that a large part of real estate is cultural. And cultural norms certainly change.
It just hasn't got any net yield.

Now if the ATO, gets the vacuum cleaner out and sucks the tax free money out of the pockets of some naughty property investors we may see some very red faces.

And some very poor after tax returns???
Maybe the ato monitors watch the Australian property forum for bragging investors that keep saying they get great returns that the ato know are impossible.

I moved away from residential realestate 25 years ago.

The last 4 properties I have bought had free houses on them.

Why would any sane person pay for a house in this country???

Capital gains :D :D :D

Well pray for a steady supply of fools greater than yourselves.
Peter
Edited by Foxy, 12 Dec 2015, 03:59 PM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy