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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 (18,693 Views)
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Shadow
27 Oct 2014, 11:13 AM
Good call! :tu:

Where did this guy go?
That certainly was a good call Shadow, well done.

I heard earthsta fucked off to South Africa to do a flipper.
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stinkbug
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Trojan
27 Oct 2014, 03:03 PM


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
Glad you did well Trojan. Long term holds of well bought property generally do OK.
---------------------------------------------------------------

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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skamy
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Great thread and well done Trojan, you picked a great place to buy.

This thread is a great example to those who think that hordes of people will sell them their homes if there is a downturn in the economy. Trojan probably went to a lot of expense for that first auction but nevertheless held onto his home. This is the classic reason why house prices are sticky, people do not sell at reduced pricing unless they are absolutely desperate.

It is crazy for the current group of bears to believe that people will be selling homes cheap just because of a change over from the boom in investment.
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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fullsun
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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.
Hilarious, if this thread had been about a home in almost any other Australian capital it would stayed buried along with its failure to appreciate in value. Brisbane, Perth, gold coast... the list of cities in the grip of an 8 year slump is huge now. But keep up the shilling, at least until the millions of IO loans everyone has bought under are forced into reset.
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