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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 (19,110 Views)
Terry
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Khaderbhai
14 Sep 2016, 05:00 PM
It shows that most people don't load up on debt just because their house rises in value Roddy. Oldies have the most valuable houses, and those houses have increased in value for the longest period of time, yet they have the lowest debt.
No it doesn't show that at all.
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Khaderbhai
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Wealthy Suburbanite

Terry
14 Sep 2016, 05:28 PM
No it doesn't show that at all.
Prove it Roddy.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Rastus2
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Khaderbhai
14 Sep 2016, 05:29 PM
Prove it Roddy.
lol.

Before demanding others provide proof of their claims, how about you go back to another thread and provide proof of your own ones :re:
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Terry
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Khaderbhai
14 Sep 2016, 05:29 PM
Prove it Roddy.
Nothing to prove. The x-axis shows debt composition by age and y-axis shows the dollar value of the debt.
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Ex BP Golly
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Khaderbhai
14 Sep 2016, 03:42 PM
Here comes Rastus/Golly/Roddy to deal with the latest emergency...
Still in debt in retirement, even though, as you say, they bought the cheap houses.
It's going to look really bad in another decade.

WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Khaderbhai
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Terry
14 Sep 2016, 05:49 PM
Nothing to prove.
As I suspected Roddy.
Ex BP Golly
14 Sep 2016, 06:53 PM
Still in debt in retirement
Nope. For households aged 65 and over, 78% own without a mortgage, only 6% have a mortgage, and the remainder rent.

For households aged 55-64, 50% own without a mortgage, and only 31% have a mortgage.

http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/1301.0Main+Features1322012

Like I said, as people get older, the majority pay off their mortgages and reduce their debt.

78% (i.e. the vast majority) reduce their mortgage debt to zero by retirement age.

And even by 55-64 years old, the number of mortgage-free homeowners is much larger than those who still have a mortgage.

As usual, both you and Roddy have no idea what's going on.

You misinterpret and misunderstand everything as a result of your bias and agenda.
Edited by Khaderbhai, 14 Sep 2016, 07:08 PM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Jon Snow
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Khaderbhai
14 Sep 2016, 01:17 PM
while the 'common man' has been making heaps of money from rising house prices?
Prove it. I don't know any "common men" that have made money. Paper gains sure, but no money.

You remind me of this guy:
http://www.smh.com.au/business/workplace-relations/surf-life-saving-nsw-manager-embezzled-3-million-20160914-grg2co.html

Embezzled 3 million and bought properties. Only got caught because he admitted to it in his resignation letter. Up until that point he was one of your genius heroes, defrauding people and speculating in property. If he was Irish I would put money on it being you.

Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Khaderbhai
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Jon Snow
14 Sep 2016, 08:51 PM
he admitted to it in his resignation letter
Well that was a bit silly.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Jon Snow
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Khaderbhai
14 Sep 2016, 09:28 PM
Well that was a bit silly.
Not really. If he had been discovered the court would have taken a much dimmer view. As it is, he has been able to negotiate.

You should probably learn from his example and own up to all of your current frauds and deceits. It will be easier on you when you eventually get caught.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Khaderbhai
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Wealthy Suburbanite

Jon Snow
14 Sep 2016, 09:38 PM
If he had been discovered the court would have taken a much dimmer view
He could have left quietly, moved to an undisclosed country with his millions, and disappeared off the grid.

Good chance he wouldn't have been found out, but even if he was, good chance it would have been too difficult to locate him and chase him down. Cops have more important things to do.

Quote:
 
You should probably learn from his example and own up to all of your current frauds and deceits.
I'm the most honest person you'll ever meet.

Quote:
 
It will be easier on you when you eventually get caught.
They'll never catch me.
Edited by Khaderbhai, 14 Sep 2016, 09:46 PM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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