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Our house is up for auction tomorrow!; Anyone want to guess how the market has performed in the last 5 years?
Topic Started: 26 Aug 2011, 12:44 PM (18,695 Views)
mel
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Nice work Trojan. Energy works in mysterious ways sometimes :)
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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hoofarted
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He could easily be posting here that he is glad he accepted the lower offer. People do not understand how much it costs them to live in their own house.
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Trojan
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Contrary to the doom and gloom preachers, we did not chase the market down from 2011.
We have now sold this and have $1.1mil sitting in our bank account (mainly offset on the new house we are building)

For the silly people who say you don't make profit or losses from selling your own home, we made zero dollars.
For people with more common sense, we made $500k CGT free profit in 8 years.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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barns
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Trojan
27 Oct 2014, 10:58 AM
Contrary to the doom and gloom preachers, we did not chase the market down from 2011.
We have now sold this and have $1.1mil sitting in our bank account (mainly offset on the new house we are building)

For the silly people who say you don't make profit or losses from selling your own home, we made zero dollars.
For people with more common sense, we made $500k CGT free profit in 8 years.
This ended up the perfect result for you. Well done.

You were lucky that 2011 was a bit soft as it allowed you to catch that next wave (apologies for the mixed metaphor).
“You Keep Using That Word, I Do Not Think It Means What You Think It Means” - Inigo Montoya
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Shadow
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Evil Mouzealot Specufestor

Shadow
27 Aug 2011, 09:25 PM
When interest rates drop later in the year (I expect October), then Sydney will take off again.
Good call! :tu:
earthsta
27 Aug 2011, 08:20 PM
You'll be chasing the market down from here on
Where did this guy go?
Edited by Shadow, 27 Oct 2014, 11:14 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Mike
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Trojan
27 Oct 2014, 10:58 AM
Contrary to the doom and gloom preachers, we did not chase the market down from 2011.
We have now sold this and have $1.1mil sitting in our bank account (mainly offset on the new house we are building)

For the silly people who say you don't make profit or losses from selling your own home, we made zero dollars.
For people with more common sense, we made $500k CGT free profit in 8 years.
Well done.

Very good example of what can be done if you put the hard work in .

Amazing reading back just how wrong the bears got it, imagine if you listened to them. Shows mosts bears don't have a clue what is really going on.


Shadow
27 Oct 2014, 11:13 AM
Good call! :tu:

Where did this guy go?
Yes spot on, amazing how Bulls seem to call markets correctly a lot of the time. You certainly called this one correct Shadow almost to the day.

The question bears needs to ask is not how Steve Keen got it so wrong so many times but how Shadow has been right so many times with extreme accuracy. Any bear who had listened to shadow on Sydney would not be many hundreds of thousands of dollars better off.

Well done.
Edited by Mike, 27 Oct 2014, 11:26 AM.
http://mike-globaleconomy.blogspot.com.au/
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Sydneyite
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Mc_Gusto
22 Sep 2011, 03:38 PM
Meanwhile in the real world the asx slips below 4000 a global recession looks a certainty if not depression, Chinese data looks ominous...especially manufacturing, commodities get slammed...again...and yet Australians cling to their houses - their houses value and their perceived value of their house in Sydneys west! Are we that fkn dumb as a nation??? This thread is beyond belief!
Hilarious! This post from over 3 years ago now sounds exactly the same, and cites all the same reasons for impending doom, as posts from the current crop of "looney" bears.
For Aussie property bears, "denial", is not just a long river in North Africa.....
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stinkbug
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Sydneyite
27 Oct 2014, 01:45 PM
Hilarious! This post from over 3 years ago now sounds exactly the same, and cites all the same reasons for impending doom, as posts from the current crop of "looney" bears.
It's just the same emotive rhetoric over and over, isn't it...
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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DumbBlondieGirl
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Trojan
27 Oct 2014, 10:58 AM
For people with more common sense, we made $500k CGT free profit in 8 years.
except you didnt.................still well done though

but using your figures 1.1-500-100k = the 500k you suggest

but you didnt factor in holding costs (interest, rates, maintenance, selling fees) so lets say you made about $300k in 8 years
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Trojan
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except you didnt.................still well done though

but using your figures 1.1-500-100k = the 500k you suggest

but you didnt factor in holding costs (interest, rates, maintenance, selling fees) so lets say you made about $300k in 8 years


Happy to included holdings costs (even though the maintenance was included in the $100k renovation costs) but lets use your figure of $300k
Roughly $500pw worth of rent saved when we first bought it and around $700 now so average it out to $600 or roughly $30k per year
8 years of saved rent is $240k + $300k = $540k tax free gain
Edited by Trojan, 27 Oct 2014, 03:09 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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