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The high cost of snake oil
Topic Started: 7 Jan 2017, 10:18 AM (10,294 Views)
Chris
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skamy
9 Jan 2017, 05:56 PM

Chris you have been sold a lie - drop the doomster charlatans who sell this nonsense to impressionable young people and greedy older people.

Missed the point completely, you are really quite dim.
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skamy
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Chris
8 Jan 2017, 10:03 PM
I've never been comfortable with the obligatory figure of 40%. Let's make it 41% plus, it seems to have a more seamless flow to it.

You bloke keep conjuring up this 40% figure to the point it now seems inevitable, be careful what you wish for my friends.
Chris listen clearly - there is not going to be any significant housing crash in any Australian city for a long long time. You are an utter fool to believe that nonsense and a total airhead if you postpone purchasing a PPOR on such silly low odds gambling.

Any kind of trend analysis you do shows that house prices in Melbourne grow - they grow because the city is increasing in both population and wealth, this is perfectly logical and perfectly predictable. Sure there are the very very occasional black swan events but even the worst times Australia has seen does not have regretful home buyers today. Are the people who bought in Sydney and Melbourne in the peaks of 1990 and 2007 weeping now?

The people who are weeping are the died in the wool doomsters still awaiting a massive price crash since 1990, and believe you me there are plenty of those around, are you going to be one of them as the next decade rolls around?
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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Rufus
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Terry
9 Jan 2017, 05:51 PM
OK, so you think quantifiable variables in econometrics can be replaced by feelings or discussions with puffed-up regulators.

When smart people want to know what is really going on they go down to the grass roots level and investigate from there. If you choose not to do that then I guess you're not one of the smart guys. Fair enough, not everyone can be smart.

Quote:
 
That's why you're a sales rep, not an economist.

Actually I'm neither, and nor are you.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Chris
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skamy
9 Jan 2017, 06:10 PM
Chris listen clearly - there is not going to be any significant housing crash in any Australian city for a long long time. You are an utter fool to believe that nonsense and a total airhead if you postpone purchasing a PPOR on such silly low odds gambling.

Any kind of trend analysis you do shows that house prices in Melbourne grow - they grow because the city is increasing in both population and wealth, this is perfectly logical and perfectly predictable. Sure there are the very very occasional black swan events but even the worst times Australia has seen does not have regretful home buyers today. Are the people who bought in Sydney and Melbourne in the peaks of 1990 and 2007 weeping now?

The people who are weeping are the died in the wool doomsters still awaiting a massive price crash since 1990, and believe you me there are plenty of those around, are you going to be one of them as the next decade rolls around?
The more you type the more simple you look to everyone, please stop typing it hurts to watch.
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skamy
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Chris
9 Jan 2017, 06:07 PM
Missed the point completely, you are really quite dim.
Chris, it is you who is dim, have you ever read Plato's allegory of a cave? You are completely brainwashed by dumb stupid doomster nonsense you live in a dark cave of fantasy and cannot even comprehend what everyone on here is trying to explain to you. Seriously, what kind of an idiot claims that money and wealth gained by investing in property is any less real than money invested elsewhere? Can you still not see through this fallacy?

Wake up to yourself. We are on your side unlike the wealth sucking doomsters you slavishly follow.


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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Rufus
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Chris
9 Jan 2017, 05:49 PM
No one will ever know who you are Pete but it's clear you have significant greater vested interests in property far beyond a humble investor/mortgage broker.

Maybe someone from the millionaires factory or from REIA or an economist? You have a very slanted view against anyone who doesn't have a bias towards property, you are very quick to denounce and label descending views, Garnaut as a 'doomster' is an example of this. You also happy to credit his views on climate but state his views on property are doomster and unfounded/non-credible.

It's hard to see how a man if his calibre could be written off in such a manner without an individuals own bias weighing heavily on the stance rather than fact.


Garnaut is a doomster, but not an unintelligent one.
Edited by Rufus, 9 Jan 2017, 06:22 PM.
Take risks - if you win you will become wealthy, if you lose you will become wise
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skamy
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Terry
9 Jan 2017, 11:51 AM
The same reasons why Star Wsrs dynasty has lasted so long. The basic dichotomy of good vs evil is at the root of all suburbanites' fears. Ultimately, what Steve Keen says is nightmarish for the suburbanites who have put all on the black based on the typical themes they hear from the media, from the Joe Hockeys, at the seminars and the barbies.

It goes without saying that Steve Keen is as popular as chilled tofu at the BBQ.
Ha ha he is more popular at the BBQs of home owners that at the BBQs of the legions of eejits like yourself who listened to his silly rubbish. He is despised by all those people who could have bought in great suburbs with big grants in 2010 who are now priced out to the outer boondocks because they believed in Keens great money making scheme of selling your home to rebuy at a 40% discount next week.

Keen's claims were always ludicrous, news corp just adopted him as a convenient bogey man to scare the masses. Looking back even someone as daft as you can see this.
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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Rufus
9 Jan 2017, 06:17 PM
When smart people want to know what is really going on they go down to the grass roots level and investigate from there. If you choose not to do that then I guess you're not one of the smart guys. Fair enough, not everyone can be smart.



Actually I'm neither, and nor are you.
OK, so you're saying if Steve Keen understood the world like a 60 Mins journo, he would be a better economist? How about econometrics? Does it have any value?
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Khaderbhai
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Wealthy Suburbanite

Terry
9 Jan 2017, 06:31 PM
if Steve Keen understood the world like a 60 Mins journo, he would be a better economist
He couldn't be any worse anyway.
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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zaph
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skamy
9 Jan 2017, 05:56 PM
This is clearly not the case - take two families both deciding to live in a block of units in Bondi Beach in 1990. One bought a unit for $250K and one rented the same sized unit in the same block for $250K a week.

Roll on the years until 2017, the renter now has to pay $1000 a week for the rent, while the OO lives virtually rent free in what is now one of the worlds most desirable suburbs. In property terms the OO shares his suburb with some of Australian wealthiest people.

The OO is $1000 a week better off than the renter - week in / week out the OO is increasing their wealth whereas the renter is becoming more and more impoverished.

Chris you have been sold a lie - drop the doomster charlatans who sell this nonsense to impressionable young people and greedy older people.

Is it real? have you not studied your history books? Germany post WW1 is one example I recall when money in the bank became virtually worthless.
$250 000 rent per week is a little high today let alone 1990. You're not supposed to drink the furniture polish Skamy.
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