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23 Years Old. Should I buy a home or load up on IPs?
Topic Started: 30 Dec 2016, 04:32 PM (4,105 Views)
Simon_S
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Can this get any funnier.......

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Rastus2
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Khaderbhai
1 Jan 2017, 09:11 AM
No, my original statement was even if you can save $100K+ a year, it's a waste of time if house prices in the price range you're looking at are increasing by $200K+ a year.

Then you introduced the idea of it going on forever. If prices increase by $200K a year forever, as you suggested, then saving $100K a year will be a waste of time forever.

If you were not implying that house prices would continue to rise by 200k per year while the person was saving then what, exactly was the contribution of your post to the OP's question ?

My question of "forever ?" which you replied "yes" to was to cast doubt that such a scenario would continue... how many more continuous years of 200k+ do you see median house prices rising in the OP's area ?

I would recommend the original poster ignore the "advice" of Khaderbhai... it was based on a situation (house prices rising by 200k a year for longer than you are able to save your $150k per year).
Edited by Rastus2, 1 Jan 2017, 02:00 PM.
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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Trollie
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Rastus2
31 Dec 2016, 09:15 PM
care to explain exactly why it is better than my post ?
You sure do need a lot of shit explained to you don't you rastus.
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Rastus2
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Trollie
1 Jan 2017, 03:01 PM
You sure do need a lot of shit explained to you don't you rastus.
Not at all, only when I have doubts about it's basis of truth.

It is a genuine question as to how my post (which gave some detail and caveats) ,was somehow less helpful to the OP than K's (that used the word "if" twice to basically say nothing of any help).

If you are unable to justify your claim, then we can simply assume it was another comment based on hate rather than reason.
Edited by Rastus2, 1 Jan 2017, 05:14 PM.
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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Wealthy Suburbanite

Rastus2
1 Jan 2017, 01:56 PM
what, exactly was the contribution of your post to the OP's question
The point was to show that even if you can save $100K a year, it's a waste of time if house prices are increasing by $200K a year.
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
1 Jan 2017, 05:14 PM
The point was to show that even if you can save $100K a year, it's a waste of time if house prices are increasing by $200K a year.

That only had a point if you expect the house prices to continue doing so... otherwise it's pretty obvious comment that any 6 year old would already know.

If you wanted to give it true meaning and context, you would say how many more continuous years do you expect house prices in the OP's area to continue rising by 200k+ a year.

eg. if you said you expect another 5 or 10 years of such rises, then the comment has context... since you cling to the "if" word to cover your bum, it means little other than a pretty obvious fact that I am sure the poster could already work out.
Edited by Rastus2, 1 Jan 2017, 05:28 PM.
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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Wealthy Suburbanite

Rastus2
1 Jan 2017, 05:27 PM
it's pretty obvious comment
Yep. Not sure why it caused such a commotion and made people react so emotionally.
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
1 Jan 2017, 05:31 PM
Yep. Not sure why it caused such a commotion and made people react so emotionally.

You must have been in a diff. thread... I didn't see people reacting emotionally... just people trying to get more info from you to see if you had an interesting point to make, or were just rambling with little to offer.... turns out it was the latter.

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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Jimbo
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Khaderbhai
1 Jan 2017, 05:14 PM
The point was to show that even if you can save $100K a year, it's a waste of time if house prices are increasing by $200K a year.
But not a waste of time if house prices are rising by $50k a year. Or not rising at all, or going backwards.
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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skamy
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Jimbo
2 Jan 2017, 02:04 AM
But not a waste of time if house prices are rising by $50k a year. Or not rising at all, or going backwards.
It is a waste of rent money and time wake up Jimbo.
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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