... You guys hate this conversation though because you know that my right ...
You're wrong Chris.
Here, I'll help proves it ta ya:
Newjez, is Chris right on this one?
Hidflect, is Chris right on this one?
Jimbo, is Chris right on this one?
Golly, is Chris right on this one?
Musty, is Chris right on this one?
Now those dudes are all pretty much unquestionably bears Chris (on at least some things or other), 'n unless they's pretty much overall totally prepared ta come in ta bat on your behalf (on wot I regards as ya totally f***ed up financially ignorant stupidity on this one) then I's just gunna hafta continue ta maintain' that ya's DEFINITELY ABSOLUTELY 100% wrong on this one ... 'Tho in truth thinkin' back I's not sure I can think of a whole lot ya's EVER bin right on?
Nope, I still tell her it's better to own a home and we work very hard together in the hope we may achieve it. She is aware however that if we did have one it wouldn't necessarily make us richer fir the very reasons I've outlined in my OP.
And yet look at the thread we are in, started by you about boomers who used their wealth from a PPOR to downsize to a house of their choosing.
Chris
11 Jul 2017, 10:31 PM
You guys hate this conversation though because you know that my right, I love to see the penny drop for you blokes. Even better than that is the idea you will soon come to realise how much worse it is if house prices stagnate or fall, this adds a whole new dimension I don't think your ready for just yet 😄
We've proven you wrong so many times on this, you've simply been eating shit on the subject so long you've tricked yourself into thinking it tastes good.
Chris no matter the generation, it all boils down to what you can realistically afford without drowning financially. You do demonstrate some aversion to debt, nothing wrong as long as it**** does NOT hold one back**** in their option. You also have some misplaced anger in spitting your dummy on blaming the boomers and anyone that seems to be high financial achievers that are above average in their thinking to improve their quality of life generally and financially. Its not healthy Chris.
I'm rather conservative and I consider true wealth to be NOT bank dependant no more.
There is nothing wrong in wanting to gauge a comfort zone in debt and there is nothing wrong in trying to save the $$. I hope you and your wife will work together in your financial goals and be on the same page.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
The other plank that you can add to your effective measures to combat ever increasing equity is to ditch your favourite brand of coffee and start drinking Kopi Luwak instead.
LOL, I suppose she is aware of this 'fact' because you educated her. I'm sure that's very comforting when all her homeowning friends, whose property values have doubled, ask her if she's still renting.
All her home owning friends? All four of them, yep and 3 are IO, yep she's super uncomfortable she's not paying rent to the bank with a 100% balloon payment at the end hahahahaha
Rat
11 Jul 2017, 10:49 PM
Prices fall or stagnate every few years. Just part of the cycle. Sydney stagnated for a decade from 2003-2012 (prices fell in real terms, and fell massively vs incomes).
Stagnated for a decade? Just pure lies and deception.
Wages decoupled from house price rises from 1996 to 2001 where the crescendo of that coming out n 2003 where housing in Melb and Sydneys became extremely unaffordable at 9-11x income.
Wages had to rise a minimum 160% to get back to the same income to price ratios that existed in 1996. So please explain to us all what falling 'massively' means in terms of real factual data rather than a propaganda throw away line
Bardon
12 Jul 2017, 03:09 PM
The other plank that you can add to your effective measures to combat ever increasing equity is to ditch your favourite brand of coffee and start drinking Kopi Luwak instead.
It's Luwak Tahi, similar to lembu tahi but has less steam to it.
Blondie girl
12 Jul 2017, 01:54 PM
Chris no matter the generation, it all boils down to what you can realistically afford without drowning financially. You do demonstrate some aversion to debt, nothing wrong as long as it**** does NOT hold one back**** in their option. You also have some misplaced anger in spitting your dummy on blaming the boomers and anyone that seems to be high financial achievers that are above average in their thinking to improve their quality of life generally and financially. Its not healthy Chris.
I'm rather conservative and I consider true wealth to be NOT bank dependant no more.
There is nothing wrong in wanting to gauge a comfort zone in debt and there is nothing wrong in trying to save the $$. I hope you and your wife will work together in your financial goals and be on the same page.
What makes you think we are not on the same page? We do just fine Blondie but what the 'boomers' and very early gen x fail to see here is that Australia is the most indebted nation in the world per capita and this has flow on affects for everyone else. If this lot were genuine they would acknowledge the hardship of those in gen y (I just scrape in so I effectively got arse rammed by the boom) such as Sydneyite buying in Sydney at 5 times income and today FHBs need to buy in at 12-14 times, and not denigrate others like myself who have been forced outer forced to take on enormous crippling debt in comparison to receive the same or shittier asset.
Why can't I blame them for what their generation have done when they blame me for circumstances out of my control?
I hear what your saying though, debt is not the enemy but I do see it as dangerous at these levels
All her home owning friends? All four of them, yep and 3 are IO, yep she's super uncomfortable she's not paying rent to the bank with a 100% balloon payment at the end hahahahaha
Those are your words Chris, not hers.
Deep down, you know how she really feels about your ill-advised decision to force her into a lifetime of renting and living under the complete control of your Lord.
She's not allowed to repaint, replace the shabby old carpet/floorboards, or make her mark on the house at all.
But she does need to make sure she keeps his house tidy for when the Lord makes his regular inspections.
Meanwhile her homeowning friends get to do whatever they want with their own homes, which have doubled in value since 2012.
Imagine the conversations they have when you're not around. Imagine what they say about you!
You're 100% responsible for forcing your missus to lead this life of poverty and servitude Chris. Shame on you. Shame.
Quote:
Quote:
Sydney stagnated for a decade from 2003-2012 (prices fell in real terms, and fell massively vs incomes).
Stagnated for a decade? Just pure lies and deception.
You're only deceiving yourself Chris. Over the decade from 2003-2012, Sydney prices fell in real terms, and fell vs rents and incomes.
That's why 2011/2012 was such a great time to buy, and why anyone who sold around that time was a complete donkey to expect a crash instead of a boom.
Deep down, you know how she really feels about your ill-advised decision to force her into a lifetime of renting and living under the complete control of your Lord.
She's not allowed to repaint, replace the shabby old carpet/floorboards, or make her mark on the house at all.
But she does need to make sure she keeps his house tidy for when the Lord makes his regular inspections.
Meanwhile her homeowning friends get to do whatever they want with their own homes, which have doubled in value since 2012.
Imagine the conversations they have when you're not around. Imagine what they say about you!
You're 100% responsible for forcing your missus to lead this life of poverty and servitude Chris. Shame on you. Shame.
Hahahahaha, your male chauvinist side shone through nice and brightly there! My missus does what she's told does she? Does whatever the hubby says to do does she?
Oh wow you've even implied she has no ability to think freely and determine her own stance on the matter, a mindless servant of her man apparently 🙈👎
If anyone wondered what type of person you truly are you just left them in no doubt
Rat
12 Jul 2017, 04:31 PM
You're only deceiving yourself Chris. Over the decade from 2003-2012, Sydney prices fell in real terms, and fell vs rents and incomes.
That's why 2011/2012 was such a great time to buy, and why anyone who sold around that time was a complete donkey to expect a crash instead of a boom.
Shadow deception layed to bare, so 2012-13 went back to 2001-3 levels when housing first became SERIOUSLY unaffordable, good example you clown.
Try again, you effectively made my point for me which makes a debate quite boring
Oh wow you've even implied she has no ability to think freely and determine her own stance on the matter
No - I actually said the opposite.
I'm betting she doesn't share your views at all. When she's chatting with her homeowning friends (when you're not around) you can bet they all speak of you with contempt.
I'm sure she gives you a hard time about it too, from time to time, but you're too pig-headed and stubborn to really listen to her.
You've convinced yourself that you made the right decision not to buy a home five years ago, and nothing she says will convince you otherwise.
It will be a bone of contention between you forever.
Chris
12 Jul 2017, 05:44 PM
so 2012-13 went back to 2001-3 levels
Yes. In fact 2012 prices were lower then 2003 in real terms, and also lower vs incomes and rents. It was a decade of prices stagnating and falling in real terms.
Quote:
2001-3 levels when housing first became SERIOUSLY unaffordable
If houses had been SERIOUSLY unaffordable for the past 16 years then we wouldn't have so many people buying them, and mortgage arrears would be much higher (currently sub 1%). Remember, just because you can't afford to buy a home doesn't mean nobody else can. Like I said Chris, you're only deceiving yourself.
I'm betting she doesn't share your views at all. When she's chatting with her homeowning friends (when you're not around) you can bet they all speak of you with contempt.
I'm sure she gives you a hard time about it too, from time to time, but you're too pig-headed and stubborn to really listen to her.
You've convinced yourself that you made the right decision not to buy a home five years ago, and nothing she says will convince you otherwise.
It will be a bone of contention between you forever. Yes. In fact 2012 prices were lower then 2003 in real terms, and also lower vs incomes and rents. It was a decade of prices stagnating and falling in real terms.
If houses had been SERIOUSLY unaffordable for the past 16 years then we wouldn't have so many people buying them, and mortgage arrears would be much higher (currently sub 1%). Remember, just because you can't afford to buy a home doesn't mean nobody else can. Like I said Chris, you're only deceiving yourself.
I recall chris posted on here once his missus was pissed off because the house they rent was worth 500k back in 2011 and it's now worth over a million.
Hell even timo isn't dumb enough to argue that PPOR rising in value isn't wealth.
I recall chris posted on here once his missus was pissed off because the house they rent was worth 500k back in 2011 and it's now worth over a million.
Hell even timo isn't dumb enough to argue that PPOR rising in value isn't wealth.
I imagine Chris argues that to try to keep his wife from hating him.
Chris: 'Yes our house would now be worth over a million, but if we don't intend to sell it or use that money in any way then we wouldn't have benefited from that price rise would we? Look! Look! other guys on the forum are agreeing with me and these guys are successful investors who I get all my knowledge from and they are agreeing so don't worry!! Like look at all these posts Simon has, he's a great property investor and as you can see he's predicting a big crash. So who cares if we would've made $500k in a few short years since it didn't really exist anyway and will go to 0 soon too!'.
'Yes Chris but if you're so knowledgeable, why didn't we buy back when it was worth $500k, sell the house at a million and wait for the crash like Simon says?'.
Chris: 'You just don't get it! Leave the property investing to me okay?'.
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