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The great 'living within our means' con
Topic Started: 8 Dec 2016, 11:05 AM (4,568 Views)
skamy
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Ex BP Golly
10 Dec 2016, 09:54 AM
Million dollar Mout Druitt homes lol.


It's a ponzi dude.
In your dreams Golly

You have been dreaming cheap homes so long that you actually believe this nonsense.

All my life prices have risen and risen and they will continue to do so. Why? because a city like Sydney has been growing in wealth, in population and in desirability.

You are a fool if you believe that you will ever turn the clock back so that a Centennial park home can again be bought by an Irish navvy. These homes are bought by multimillionaires these days and those multimillionaires are still increasing in numbers in Sydney and they ain't leaving any time soon.
Jimbo
10 Dec 2016, 10:25 AM
Perth 2003 to 2007 rings a bell.

Then there were the idiots who expected a resurgence in 2012 and jumped in feet first.

Of course Skammy, you weren't one of them.

I bought heaps in 2012 and I have no regrets whatsoever. You however have thrown thousands of dollars down the drain in rent money, that could have been paying down a mortgage at record low interest rates.

You lost Jimbo - buying a house is a long term investment, I know I have bought well - I have ocean front, river front and Kings Park rd to mention a few. I got them all at great prices and had lots of time to do due diligence. These properties will do amazing long term - how can they not in this super wealthy city.

Cut your losses Jimbo - there are some great waterfront properties down your way for just over $1m - these days will never come again in your lifetime and that my friend is a fact.
Steve99
10 Dec 2016, 10:43 AM
Also as well as, the worst located houses, in fact the worst located, most crime ridden, high unemployment areas. God knows how the brand new landlord is going to extract his rent places.. This is not investment, its a case of new landlord holding her nerve and hoping some other 'Investor' buys them out in the future. Meantime, these areas are getting worse, not better, less desirable due to more ice-heads, chemists who specialise in methadone etc, more unemployment..... you get the picture.
I know a place or two in the outer skirts of Melbourne which was sort of respectable 15 years ago but as people have sold up, landlords have moved in and then rented them out to a gradually declining class of person/animal till now the gardens are full of old cars, toys and other broken objects you cant put a name too, long grass everywhere, police sirens all day and all night with the occasional stake out and roads cut off and parents who call their kids ' hey C&&t' ... Like I say, this is the result of landlords and speculators hoping for a quick buck.. this buck will stop and some of you will end up holding a particularity nasty baby.
Centennial Park, Bondi Beach, Coogee beach, Alexandria etc etc were all once crime ridden ghettos.

As a city grows the population with a certain level of wealth grows also. These people become too many for the good areas and they are forced to invest in other areas. These areas then get renovations, funky cafes arrive to serve the new richer owners and before you know it a place like Newtown has changed from a slum to a highly desirable location.


Look at the northern beaches they were hippy ville in the 60s and 70s, poorer young people moved into the suburbs and a great vibe was brought to this area. Richer people wanted to live there and so the story progressed and now the Northern Beaches are extremely expensive.

Do you seriously think this process of gentrification is going to reverse anytime soon?

People are so desperate to believe that they won't have to pay as much for a house as everyone else that they will swallow any old doomster bullshit claims.
Edited by skamy, 10 Dec 2016, 03:13 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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Jimbo
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skamy
10 Dec 2016, 03:02 PM
I bought heaps in 2012 and I have no regrets whatsoever. You however have thrown thousands of dollars down the drain in rent money, that could have been paying down a mortgage at record low interest rates.
To start with I didn't have a mortgage. All paid up many years ago while I was still in my 30's.

The money I have been spending on rent is spare change from placing my capital into investments which do not include Perth property.

I did what you said I couldn't do two years ago and I have made a killing.

How you doin'?

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.
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herbie
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herbie
8 Dec 2016, 11:05 AM
"A bigger fiscal deficit right now would mean there was more demand. It would create more jobs. It would make businesses more profitable. It need not create a debt which ever needs to be repaid. And at the moment, it need not be inflationary.
"The Government has the incorrect impression that more government investment today means we are stealing from future generations, but this is nonsense," said Dr Mitchell.
"Investment in education, health, technology and infrastructure would provide real resources for future generations, and would provide secure jobs, business profits, and a more prosperous economy today.""

http://www.abc.net.au/news/2016-12-08/the-great-living-within-our-means-con/8064268
One particular little irony in it all that I particularly appreciate is that baby boomers are doomed ta be labelled arseholes by history either which way of course:

* Run wif spendin' tha loot 'n we're arseholes for lumberin' tha youngies wif debt, 'n

* Don't run wif spendin' tha loot 'n we're arseholes for deprivin' 'em of jobs 'n their much needed future infrastructure 'n wot not ... :)

I'm just SO glad I just genuinely DON'T give a shit whether tha dumb little whining f***s hate me or not - LOL
Edited by herbie, 12 Dec 2016, 02:18 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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