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Is this the up tick before the bust?; Investors unable to control themselves
Topic Started: 17 Jan 2017, 03:19 PM (2,947 Views)
b_b
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Rufus
18 Jan 2017, 10:14 AM
I think the cost of offering offset accounts has pushed up their funding costs.

Initially they were a novelty used by the financially savvy, but now pretty much everyone understands and uses them.

There are lots of loans completely covered by credit funds in the offset account, and many many more that are largely covered by credit funds. Back in the seventies people were borrowing at rates over 10% but only getting 3.75% on their savings. Big margin.
I think that makes sense.
(S – I) + (T - G) + (M - X) = 0
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Admiral Rimmer
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Admiral Rimmer
18 Jan 2017, 09:55 AM
What about cost of o/s funding? Do you think it will have much impact?
Any thoughts on Brisbane?

Apartment market has me concerned, but for other reasons.
Sorry I meant to quote BB's post...
Edited by Admiral Rimmer, 18 Jan 2017, 10:29 AM.
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Foxy
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Zero is coming...

Chris
17 Jan 2017, 03:19 PM
http://www.theage.com.au/business/banking-and-finance/housing-investor-loan-approvals-surge-214-per-cent-in-a-year-20170117-gtswys.html

Melbourne and Sydney are again driving a resurgence in investor lending up over 20% yoy. Is this the smart money or are these idiots so out of control they can't help themselves and are oblivious to the risk
Chris, what else can they do???

Everyone wants to ride the pony into the ground, the pony needs a rest, a feed and a good rub down.

The government milks the stamp duty, the agents milk the commissions, the banks milk the fees, the dumb dumbs are logging "capital gains"

Please note the player that does not get paid till after it all happens.

Everyone else gets paid upfront :D :D :D

Tick tock...

http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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b_b
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Admiral Rimmer
18 Jan 2017, 10:27 AM
Any thoughts on Brisbane?

Apartment market has me concerned, but for other reasons.
Sorry I meant to quote BB's post...
IMO, Brisbane will be the worst performing major property market for CY 2017, and will probably start to emulate Perth’s recent performance over the next few years.

Yes I agree. The apartment market is a major concern.
(S – I) + (T - G) + (M - X) = 0
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Bardon
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Admiral Rimmer
18 Jan 2017, 10:27 AM
Any thoughts on Brisbane?

Stay clear of inner city high rise. Otherwise invest in Brisbane and double your money in ten years

Invest in Melbourne and get 60%

Invest in Sydney and get 50%.
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Chris
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Bardon
18 Jan 2017, 11:16 AM
Stay clear of inner city high rise. Otherwise invest in Brisbane and double your money in ten years

Invest in Melbourne and get 60%

Invest in Sydney and get 50%.
That is pure financial advice, you might be held liable for it in the future.

Think about this before you type anything, it doesn't take much to trace an IP address in the event of a civil suit being inacted.

For your own sake be more careful, phrases like 'I believe' or 'in my opinion' need to acomoany these type statements
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Khaderbhai
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Wealthy Suburbanite

Chris
18 Jan 2017, 09:39 AM
Quote:
 
They are about half way through their growth to peak and have another 10 years left in this leg up, a mid cycle slump will happen as well.
Wrong.
That's pure financial advice Chris, you might be held liable for it in the future.

Think about this before you type anything. It doesn't take much to trace an IP address in the event of a civil suit being enacted.

For your own sake be more careful. Phrases like "I believe that's wrong" or "in my opinion you're wrong" need to accompany these type of statements.
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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Bardon
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Chris
18 Jan 2017, 12:40 PM
That is pure financial advice, you might be held liable for it in the future.

Think about this before you type anything, it doesn't take much to trace an IP address in the event of a civil suit being inacted.

For your own sake be more careful, phrases like 'I believe' or 'in my opinion' need to acomoany these type statements
You dont have talk a lot of complete shite.

And you have no idea about the law either.

Come to think of it I am struggling to understand what your strong point is.
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Matthew
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Chris
18 Jan 2017, 12:40 PM
That is pure financial advice, you might be held liable for it in the future.

Think about this before you type anything, it doesn't take much to trace an IP address in the event of a civil suit being inacted.

For your own sake be more careful, phrases like 'I believe' or 'in my opinion' need to acomoany these type statements
For there to be a Civil suit the plaintiff would need to have first acted on the above unsolicited advice. They would need to demonstrate that the sole reason for their investment was the result of that unsolicited advice. They would have to demonstrate that had it not been for the unsolicited advice they would not have invested in any of the markets indicated. And they would have to wait 10 years for the unsolicited advice to play out to the end and demonstrate that they suffered severe financial hardship as a result of following the unsolicited advice.

The unsolicited advice is absent of phrases such as "I guarantee" or "I 100% personally guarantee" that could weld the unsolicited advice to Bardon as a guaranteed outcome.

Even if they could achieve that they would likely be laughed out of court and have costs awarded to the defendant on an indemnity basis.

You can do better than that kid.
Edited by Matthew, 18 Jan 2017, 01:35 PM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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A Lurker
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Chris
18 Jan 2017, 12:40 PM
That is pure financial advice, you might be held liable for it in the future.

Think about this before you type anything, it doesn't take much to trace an IP address in the event of a civil suit being inacted.

For your own sake be more careful, phrases like 'I believe' or 'in my opinion' need to acomoany these type statements
Real estate isn't a financial product for the purposes of financial advice laws in Australia.

A mortgage is a credit product but as no mortgage advice was given Barton is completely in the clear. Also the credit product laws and protections are much less onerous than general financial advice laws so he'd probably been alright even if he gave credit advice (unless he actually provides credit products without the appropriate licence), which he didn't anyway.

Carry on.
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