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Sydney property owners making $200,000 a year for 'doing nothing'; Bringing home the bacon
Topic Started: 3 Sep 2016, 05:24 AM (19,114 Views)
herbie
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Simon_S
11 Sep 2016, 11:21 PM
Its Actually Depression 3.

It wouldn't matter as Both would lead to House Price Falls.
Idiot.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Simon_S
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herbie
11 Sep 2016, 11:44 PM
Idiot.
Can't understand why huh........LOL

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herbie
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Simon_S
11 Sep 2016, 11:47 PM
Can't understand why huh........LOL
I look forward ta seein' Tezza explain it to us ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Trollie
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Simon_S
11 Sep 2016, 10:01 PM
Good to see you caught that Bus again.....
So when did you start holding out for the big crash simon?

6 years, 10? Time is more valuable than money and all you've done so far is waste both.
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Bardon
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A nice bit of effortless money creation for doing absolutely nothing being made here. This house was totally neglected by its previous owners for many years and left to its own devices to slowly rot away, yet it still manages to bring home the bacon.

Which all goes to show how the economic rent system always works and how effortless its value creation properties are.


Quote:
 
Abandoned, rundown inner Sydney house sells for $2.1 million

If you need any further proof that the property market is in an exuberant mood you don’t need to look any further than these two sales. One is barely habitable and the other last sold for less than $400,000 in 2000 but went at auction for more than $1.8 million. In Sydney, a dilapidated three-bedroom cottage in Camperdown sold at the weekend for a barely believable $2.1 million – more than $150,000 above its reserve price. The Kingston Road property, which lies on 385 sqm, is in a state of disrepair having been uninhabited for the past five years, with cobwebs and layers of dust covering the house.

But that failed to put off buyers Kim Bragamza and her husband Mark Bhardwaj, who beat off several keen developers for the property. “It’s a beautiful property, great location and parking was key,” Ms Bragamza told Domain.


Posted Image

http://thenewdaily.com.au/money/property/2016/09/11/rundown-sydney-sale/
Edited by Bardon, 12 Sep 2016, 02:57 PM.
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Terry
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Bardon
12 Sep 2016, 02:03 PM
A nice bit of effortless money creation for doing absolutely nothing being made here. This house was totally neglected by its previous owners for many years and left to its own devices to slowly rot away, yet it still manages to bring home the bacon.

Which all goes to show how the economic rent system always works and how effortless its value creation properties are.





Posted Image

http://thenewdaily.com.au/money/property/2016/09/11/rundown-sydney-sale/
Sure, I bet the growth rate in house prices is probably lagging well behind that of money creation.

Get amongst it Tiger. Nothing to lose; everything to gain.
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Bardon
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Terry
12 Sep 2016, 03:42 PM
Sure, I bet the growth rate in house prices is probably lagging well behind that of money creation.

Get amongst it Tiger. Nothing to lose; everything to gain.
The best bit is the buyers justification apparently you can park one car there and that was what clinched the deal for the lucky new owner.
Edited by Bardon, 12 Sep 2016, 06:22 PM.
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Trollie
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Terry
12 Sep 2016, 03:42 PM
money creation.
Another opportunity to embarrass yourself roddy.

Fire away, I give you permission.
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Bardon
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Not only are they making massive amounts of money for doing nothing, property owners are also massively increasing their cash holdings at the same time.

Quote:
 
Some homeowners are up to 2½ years ahead on their mortgage repayments following record low interest rates and rising prices, giving them and their banks a buffer to any collapse in prices. Commonwealth Bank, the nation’s biggest lender with almost $400 billion of mortgages, has 78 per cent of customers in advance by an average 29 months, including offset accounts. Stripping out offset accounts reduces the advanced payments to seven.
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skamy
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Simon_S
11 Sep 2016, 03:15 PM
So Skammy you actually Believe that Central Banks can create Growth............

LOL....

So after QE ZIRP and NIRP the Global Economy has Recovered fully to begin the Next Boom.......


I think the Central banks have learned a few things from this recession. I do not think any human being can fully manipulate anything. However as credit gets released to the market again things will recover.

Whoever controls the supply of money can manipulate most things, most of the time, with control of the media in a close second place.

You natter on and on about a style of disinfo that encourages young naïve people to believe that the system of power and wealth as we know it is just about to self destruct.

You are being encouraged to make stupid financial decisions based on this silly nonsense. Wake up to the real world and the massive people movements that can and do happen eg buying in Sydney. If you want to change minds and influence people then it is easier to do this from a position of personal success not financial failure.
Jon Snow
11 Sep 2016, 05:04 PM
:lol :lol :lol


I didn't say they are not useful Mensa, I said that most heuristics used by the common man (average person) are fallacious. You read at a year 8 comprehension level but your IQ is Mensa ... :re:
Wait ... better use gender neutral language in this age of PC.
I'm saying that most heuristics used by the common person (average fool) are fallacious.



That's a great one. I suppose interest payments are 'live money'. No wait, grocery money is dead money. You should grow your own food, or own your own supermarket. Ever heard of specialisation Mensa? You know, that what built civilisation? Civilisation Mensa, heard of that? Or are you still growing potatoes in preparation for the next famine?

Thank god no one of any intelligence listens to this fallacious crap or we would still be living in mud huts and dying before we reach puberty.

Blah blah blah , chitty chat chat.
Your biggest mistake is your world paradigm which conveniently has a class of people defined as "the common man" to whom you place yourself superior to.

This is a classic Terry world view.

In my world view there is a lot of wisdom in the views of the common man and being part of the group defined as the common man is a valuable position to be in.
herbie
11 Sep 2016, 09:10 PM
Good on ya Sis - I reckon me 'average' IQ would vary between 60 'n 120 these days - Just dependin' on how far inta me bottle of grog I are ... :)
I reckon you are a sly one Herbie - there is a lot more going on between those ears of yours than you let on to the youngsters on here.

You help them save face, these are smarts missing in most posters here including myself lol.
Edited by skamy, 13 Sep 2016, 11:24 AM.
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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