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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 (19,107 Views)
Khaderbhai
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Wealthy Suburbanite

Terry
15 Sep 2016, 11:47 AM
Your link has nothing to do with debt. Not sure you'd fair too well in high school-level applied maths mother cat.
Roddy, if you can't see the link between debt and mortgaged vs outright ownership, then I doubt you'd fare (not 'fair' :re: ) too well in kindergarten level maths. Or English, it seems.
Edited by Khaderbhai, 15 Sep 2016, 11:59 AM.
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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Terry
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Khaderbhai
15 Sep 2016, 11:56 AM
Roddy, if you can't see the link between debt and mortgaged vs outright ownership, then I doubt you'd fare (not 'fair' :re: ) too well in kindergarten level maths.
Unrelated to your graph mother cat, which doesn't show how debt is increasing / decreasing among different age groups. Neither does your link.
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Khaderbhai
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Terry
15 Sep 2016, 11:59 AM
Unrelated to your graph mother cat, which doesn't show how debt is increasing / decreasing among different age groups. Neither does your link.
Roddy, the data shows that 94% of households have zero mortgage debt by age 65+.

The only way they could achieve that is by decreasing their mortgage debt.
Edited by Khaderbhai, 15 Sep 2016, 12:02 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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skamy
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Simon_S
13 Sep 2016, 01:37 PM
Great can you provide evidence of when and where QE ZIRP and NIRP were used in previous downturns?


I think this is where you conveniently disappear from the discussion as you cannot substantiate your Bullshit......

Whats Ben Bernanke talking about here.....

Chairman Ben S. Bernanke
At the Stamp Lecture, London School of Economics, London, England
January 13, 2009
The Crisis and the Policy Response









So you have read this commentary and reposted it here - now it is actually years on from these little ditties of yours - are you incapable of analysing the actual outcomes? Or do you just wish to keep posting quips from doom and gloom sites that are getting rather old and dogeared.

The actual behaviour of the banks had the same outcomes as they always have before - credit for the working people was restricted exacerbating a downturn and creating a great asset buying opportunity. It will not be long now until the reigns on credit will be eased to create a wonderful new period of wealth building. This may or may not be deliberately manipulated - it may simply be a natural consequence of human behaviour as we all move together through periods of fear or exuberance.


Work it out for yourself and make good decisions for you and yours, don't get stuck in these doom and gloom cults where they preach the evils of debt and wealth creation like the puritans of days gone by.
herbie
13 Sep 2016, 02:00 PM
Just a general observation Skamy, but there seems ta be a clique of 'smarties' these days wot reckon it's smart ta reject tha 'folk wisdom' of 'tha ages' - Without giving much thought ta tha fact that tha folk wisdom of tha ages was acquired over ages 'n has pretty much stood 'us' in reasonably good stead for ages --- Are they smarter than me ... Quite probably? But will their active rejection of tha folk wisdom of tha ages benefit them 'n theirs more than my acceptance of it has benefited me 'n mine ... Rather less probably I reckon?

'N damn, don't they seem ta be capable of gettin' their tights in a twist over it! - :)

Jeez, it's got red bold shit in it - It must be another post from Simon ... :)

Hmmm - 'N just thinkin' about it, ya weren't a silver spooner either, wot's daddy could affords ta keep linin' ya up agin 'n agin until ya eventually DID pass. So yep, my 'law of averages' punt still remains ya IQ is above 85 Skamy - Despite all 'n any of Sno Flake's protestations/prognostications ta tha contrary ... :)
I was berating snow flake for assuming there was less between your ears than would meet the eye. :)
He is so convinced winter is coming poor soul.
Jon Snow
13 Sep 2016, 08:50 PM
Only in intelligence. The common man is much superior to me in violence, as demonstrated on this forum often.


Well sure, if you are a penguin, then it is warmest in the middle. But only the penguins on the edge see the polar bear heading towards them.
Posted Image
I think you will find it is those who think they are the elite who are mostly behind the violence.


So your allegory is that we are like a group of penguins - with the doom and gloomers too scared to move from the edges because they are afraid they will not see the polar bears coming. You are sacrificing a lot of days of warmth for an event that might never happen, besides the penguins in the middle hear the screeches of the penguins at the edges to give them plenty of warning.

I prefer Plato's allegory of the cave where I, who have lived a long life and seen many previous crashes and recessions, am trying to communicate a few truths to kids like you who are stuck in Plato's cave with absolutely no means of comprehending what the world is really like outside that dark and gloomy cave you currently prefer to stay in.

Herbie also tries to help you and now that you can even witness what a recovery looks like after years of stagnation in other cities you are still clinging to the dark fantasies which you believe will enrichen you with a cheap home. You still cannot see the doom and gloom propaganda tools which you have been caught out with.

Your crash ain't gonna happen Jon Snow - it is very likely that all our houses in all our cities are currently as cheap as they ever will be.

Winter is passing and summer is on its way - you can go with the flow and build wealth or you can hold onto your aloof separateness into your retirement rental in the boondocks.
Edited by skamy, 15 Sep 2016, 12:29 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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Terry
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Khaderbhai
15 Sep 2016, 10:37 AM
Roddy, the ABS data shows that 94% of households have reduced their mortgage debt to zero by age 65+

http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/1301.0Main+Features1322012
It doesn't show that absolute debt levels are decreasing nor does it show debt levels by age composition. High school maths 101.

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Khaderbhai
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Terry
15 Sep 2016, 12:38 PM
It doesn't show that absolute debt levels are decreasing nor does it show debt levels by age composition. High school maths 101.
Roddy, if 94% of households have no mortgage debt by age 65+ then they must have reduced their debt. Logic 101.
Edited by Khaderbhai, 15 Sep 2016, 02:14 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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Rastus2
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Khaderbhai
14 Sep 2016, 11:23 PM
Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner.
Don't let yourself get into a position where your actions cause such constant need to bolt.
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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Khaderbhai
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Rastus2
15 Sep 2016, 02:20 PM
Don't let yourself get into a position where your actions cause such constant need to bolt.
It's a lifestyle choice.
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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Terry
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Khaderbhai
15 Sep 2016, 02:14 PM
Roddy, if 94% of households have no mortgage debt by age 65+ then they must have reduced their debt. Logic 101.


Mother cat, absolute debt levels among all age groups are increasing over time, not decreasing, probably less so among the 65+ age group, but that's not showed by you graph or the link you supplied. Articulating that older people pay off more debt over time than young people would get you to C- in your high school test. Spinning a narrative without supporting data doesn't get you extra marks.
Edited by Terry, 15 Sep 2016, 02:59 PM.
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Khaderbhai
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Terry
15 Sep 2016, 02:51 PM
Mother cat, absolute debt levels waffle waffle waffle
Roddy, you've gone off on a tangent again.

Golly claimed most homeowners increase their debt as their house increases in value, and that most are still in debt in retirement.

I provided ABS data to prove that older generations carry less debt, and that most homeowners (94%) reduce their mortgage debt to zero by retirement age.

Your waffle about 'absolute debt levels' is irrelevant and doesn't change the fact that most people reduce their own personal mortgage debt levels over their lifetime.

Most people who buy a house today will have less debt in the future, because most people eventually pay off their loans, even as house prices rise.

You're getting yourself all confused between aggregate data and individual outcomes Roddy. You are clearly no analyst.
Edited by Khaderbhai, 15 Sep 2016, 03:32 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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