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What's your favourite Somersoft thread?; Somersoft Property Investment Forums mass delusions
Topic Started: 18 Mar 2011, 10:48 AM (30,723 Views)
Mahamed
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Morbidly Obese

Does anybody ever read the rubbish the spruikers come out with on the Somersoft forum?

Somersoft - No bubble = lower interest rates

Quote:
 
I once challenged the doomsayers like Hobo to a bet on this forum but the Mods, fearing anti-gaming laws, pulled the thread.

My challenge went something like this. I offered to pay the doomsayers $10,000 if the lowest quartile median of all Melb suburban property did not rise by 10% over the oncoming year; I also predicted much larger gains circ 20% for the lowest decile of all non-inner suburban Melb property.

Nobody rose to the challenge. In any case, according to the Mods, such bets are illegal and unenforceable.......pity, I'd love to take a few dollars out of the doomsayers pockets. Not that they'd have much to spare. Its a rare thing for them to put their money where their mouths are.

These fools think the RBAs going to cut rates and save them. I've got news for you, interest rates are likely to rise 0.5 to 1 percent this year and capitulate the property bubble.
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Alright Jack
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Somersoft becomes more bearish by the day. Even the permabulls must see the writing on the wall.
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BubbleBoy
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I respectfully disagree.

Lets look at the facts. Many of the Somersofties have made very good money due to past rises in real estate.

The bears here claim that prices will crash. Maybe they will, maybe they won't.

But to label the Somersofties as a bunch of spruikers, dumb etc, just because they don't share your predictions - that is just wrong.

Edit: I should also mention that there are some SS posters that are ultra annoying, bullying, lying, etc etc - but I guess those exist in most forums.
Edited by BubbleBoy, 18 Mar 2011, 05:27 PM.
My name is based on a Seinfeld character, not on a belief of a housing bubble.
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Mahamed
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Morbidly Obese

The Get Up campaigns have the Somersofties running scared !

http://www.somersoft.com/forums/showthread.php?t=69876
Quote:
 

Left wing political group orchestrating home buyers strike...
Hi Guys,

Thought I'd draw this to everyones attention, the Leftie group GetUp! has finally had enough of renting so they are attempting to bring down property prices through an organized property boycott.

http://suggest.getup.org.au/forums/6...-buyers-strike

Also they tried to add their campaign to this page but I've removed it, does anyone know more about Wikipedia rules to stop this being added (its blatant self promotion of their own cause and not relevent to the page but not sure which Wikipedia rules this breaks?)
http://en.wikipedia.org/wiki/Australian_property_bubble
http://en.wikipedia.org/w/index.php?...action=history

Hopefully this crap doesn't hit the newspapers but knowing The Age in Melbourne it will probably be front page next week...
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matthew_50
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lol, what an ahole.. if he was so sure the idea would fail (as I am) why is he taking it down from the net??

he's doing it because he is afraid of the same thing I hope will happen: it will INFORM AND SPREAD THE WORD OF THE BEAR.

of course the contrived idea of a 'buyers strike' will never work! this is the most important financial decision of someone's life (sadly)

but the thought, the fact that so many support the idea in principle, hopefully that alone will send a message to the gov, and more importantly, make brainwashed buyers take a step back and look at the issue more sensibly.

"It must be tough to continue to be a perma-bear for years, when all the historic evidence shows house prices steadily going up with the odd flat spot or correction along the way.

It must be like thinking the sky is red, but it continues to keep on coming up blue every day - it'd do yer head eventually."

thats gotta be one of my 'favorite' posts I'd seen there...

sure, I guess I'd be more convinced too... if the sky hadn't suddenly turned red all over the rest of the world... or the sky hadn't evenly switched between red and blue (or a steady purple from a more macro view) for like 60 years before the 1980s... or there wasn't fundamental evidence suggesting that the makup of the atmosphere was unsustainable and destined to change...

just the arrogance... from someone who clearly hasn't even seen rule #1 in investing... "past performance is not an indicator of future gains"
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nuff_ced
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just when you think you've heard it all..This guy takes out a loan with a bank and then thinks they owe him!! Classic.

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investor2009
Thanks mate. I just emailed my CBA guy,
I'm aware of conveyancer fees, agents fees etc but can't remember how the fixed rate thing works, if rates go up and I break the term, they owe me, and if down I owe them, or something? I can't imagine any fluctuation for the next few months though either way. So, what would I end up paying?

Thanks.

http://www.somersoft.com/forums/showthread.php?p=776055#post776055
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hoofarted
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Quote:
 
...if rates go up and I break the term, they owe me...

The whole world is a pokie machine for these people.
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funny_man
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http://www.somersoft.com/forums/showpost.php?p=776729&postcount=5

each of these arguments could be refuted.
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Mahamed
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Morbidly Obese

funny_man
31 Mar 2011, 11:05 PM
It's pointless, there's no talking to somersoft bulls, they're worse than our bulls and that's saying something. I am just wondering what they do for a career. More specifically, are they working in real jobs ? The despise people who work in real jobs, or Just Over Broke they call it ! They think they've found the secret to getting rich quick and easy by milking the public teat and rorting tax laws. Some of them boast about dodgy 6 year schemes and using dodgy "trusts" to avoid tax etc If you try to argue with them too much the moderators can ban you very quickly !

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Rastus2
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funny_man
31 Mar 2011, 11:05 PM
I think this is my favorite post from SS to date.

SunFish is what I would consider a well balanced Investor.

Today, 01:07 PM
Sunfish
Member Join Date: Jan 2007
Location: Nth Qld
Posts: 5,524

I have been a member here since '04 and the "pro's" here were telling me to invest in Syd then. Had I done so I would be ahead, but not far ahead after 7 years. "Not far ahead after 7 years" is a loss.

I have never quoted Keen. My line is that you will be losing money as long as prices stay flat. I don't think I'm smart but I'm making REAL profits elsewhere.
__________________
Too old to die young.
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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