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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 (19,105 Views)
Terry
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skamy
15 Sep 2016, 05:36 PM
You fundamentally do not understand aggregate statistics.

This is evident when you claim that because aggregate debt to income has increased that the average individual is borrowing more relative to wages. Yet there is plenty of evidence to show this is untrue. What has happened is that as wages have risen more people pass into a wage bracket that will support a mortgage.

I have demonstrated this many times on here . However, you just love a good puritanical rant against the dangers of debt and you imagine that everyone else is behaving really stupidly by piling up with debt and that one day they will be in such trouble that they will sell you their good Sydney home for a fraction of its value.

You do not even realize that this is quite quite insane. Most Australians are very cautious with debt and pay it down very quickly relative to other countries.
No Roddy. If income is scaled between two different time periods, that is an appropriate method for comparison. Analytics 101.
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Ex BP Golly
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Khaderbhai
15 Sep 2016, 10:29 AM
Didn't say it did. ....
Yes you did:

Quote:
 
Yes, according to the ABS chart, as well as the ABS link


Why do you always lie?
Edited by Ex BP Golly, 15 Sep 2016, 09:33 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Jon Snow
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skamy
15 Sep 2016, 12:10 PM
I think you will find it is those who think they are the elite who are mostly behind the violence.
Er.... no. Poor people are more violent in every way you care to measure. Occasionally, when the poor become too violent to manage, their violence is re-directed at another group of poor people somewhere else in the world. Preferably as far away as possible.
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So your allegory is that we are like a group of penguins

Not an allegory Mensa. It began as an analogy, but seems to have morphed into multiple bull fantasies.
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You are sacrificing a lot of days of warmth for an event that might never happen

You are welcome, no thanks needed, because I know none will be forthcoming.
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, besides the penguins in the middle hear the screeches of the penguins at the edges to give them plenty of warning.

They are still stuck in the middle Mensa, so their horror is doubled.
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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.
Sure Mensa, you have ventured outside the cave and I am still watching the shadow play on the walls.
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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.
I didn't get Herbie's cheque. Maybe he lost my address details. At any rate, if you think this is what a recovery looks like, you are in for a surprise. This is what cheap debt and hot money looks like. If you don't recognise it, it's because you have never ventured out of your mud hut.
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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.
Anything can happen. Even your fantasy of risk free millions.
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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.
That was almost poetic.
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

Ex BP Golly
15 Sep 2016, 09:04 PM
Yes you did:

Why do you always lie?
I never lie. The ABS chart and link together show that older people have less debt than younger people, and most people reduce their mortgage debt to zero by retirement age.

It was you who lied, when you falsely claimed that most people increase their debt as their property value rises, and that most are still in debt at retirement.
Edited by Khaderbhai, 15 Sep 2016, 09:47 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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A Lurker
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Jon Snow
15 Sep 2016, 09:05 PM
Er.... no. Poor people are more violent in every way you care to measure. Occasionally, when the poor become too violent to manage, their violence is re-directed at another group of poor people somewhere else in the world. Preferably as far away as possible.


Not an allegory Mensa. It began as an analogy, but seems to have morphed into multiple bull fantasies.


You are welcome, no thanks needed, because I know none will be forthcoming.


They are still stuck in the middle Mensa, so their horror is doubled.

Sure Mensa, you have ventured outside the cave and I am still watching the shadow play on the walls.

I didn't get Herbie's cheque. Maybe he lost my address details. At any rate, if you think this is what a recovery looks like, you are in for a surprise. This is what cheap debt and hot money looks like. If you don't recognise it, it's because you have never ventured out of your mud hut.

Anything can happen. Even your fantasy of risk free millions.

That was almost poetic.
You still don't get it do you?

In the wild no polar bear has ever eaten a single penguin and never will. That is why the analogy is so perfect at representing your world view.
Edited by A Lurker, 15 Sep 2016, 10:49 PM.
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herbie
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Jon Snow
15 Sep 2016, 09:05 PM
... I didn't get Herbie's cheque ...
I never got ya invoice for services received?

Or even waltzed inta ya casino beggin' ta make a gamble when full a piss ...

Or are you just another one of those begging scrounging types wot comes 'round/rings up regularly wif a hard luck story lookin' for a freebie handout? - Wot I tells ta eff off - As I gave at tha tax office ... :)

'Cept on Halloween - But only when tha mamma's got more 4 kids or more - So's I can give 'em only one lolly - 'Cause I just enjoys seein' tha little buggers fight over it so much - LOL
Edited by herbie, 15 Sep 2016, 10:59 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jon Snow
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A Lurker
15 Sep 2016, 10:48 PM
You still don't get it do you?

In the wild no polar bear has ever eaten a single penguin and never will.
Awwww .... you had to go and ruin it didn't you?

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That is why the analogy is so perfect at representing your world view.

Sure, whatever. How's the dog grooming going?

herbie
15 Sep 2016, 10:51 PM
I never got ya invoice for services received?

According to Mensa you were helping me out, all charitable like. I didn't ask for your charity, but I figured if you've already sent the cheque then I will accept it.
Edited by Jon Snow, 15 Sep 2016, 10:56 PM.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
15 Sep 2016, 10:54 PM
According to Mensa you were helping me out, all charitable like. I didn't ask for your charity, but I figured if you've already sent the cheque then I will accept it.
Please refer ta me comments re tha ATO 'n Halloween above ... :)
Edited by herbie, 15 Sep 2016, 11:02 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Ex BP Golly
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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.
That would be logical, if true, but Your chart doesn't show that at all.

You say 94% debt free, yet your chart shows the average retiree carries Posted Image
Edited by Ex BP Golly, 16 Sep 2016, 02:45 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Khaderbhai
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Wealthy Suburbanite

Ex BP Golly
16 Sep 2016, 02:40 AM
That would be logical, if true, but Your chart doesn't show that at all.

You say 94% debt free, yet your chart shows the average retiree carries
Ah, I see... you're not familiar with how averages work. Sorry, I assumed you understood the basics.

OK, I'll try to make this simple so you can get your head around it. Let's say there are five retirees...

Retiree A: Zero debt
Retiree B: Zero debt
Retiree C: Zero debt
Retiree D: Zero debt
Retiree E: $100K debt

To calculate the average debt, you divide the total debt ($100K) by the number of retirees (5).

You can use a calculator for this if you want (there's one on Google).

$100K divided by 5 turns out to be $20K. So the average retiree (in this example) has $20K of debt, even though 80% of retirees have zero debt.

The 80% is calculated by dividing the number of employees with no debt (4) by the total number of employees (5), and then you multiply by 100 to convert it into a percentage - i.e. (4/5) * 100 = 80%.
Edited by Khaderbhai, 16 Sep 2016, 08:13 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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