Bulls pat themselves on the back for riding the back of rising property prices but if you are upgrading it just ends up costing you more in price differential and stamp duty. Downsizing is where it counts for price differential working your favour, but stamp duty still gets you. In Trojan's case, I expect he would be much better off transfer expense-wise had the market been flat or gone down since his original purchase.
Yes it would be great if I could buy a property with spare change instead of getting a loan. Unfortunately this is the world we live in and things we like costs a lot of money.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
Yes it would be great if I could buy a property with spare change instead of getting a loan. Unfortunately this is the world we live in and things we like costs a lot of money.
Trojan two words.
OINK OINK
Australias most powerful finance guy Australian residential property prices back to 2004 levels by 2015
Irrigardless of whatever the excuse is now after the action, the fact remains that the house was not sold.
Bids were all puff and wind.
No money in the bank, no contract..... you still have your pile of debts, sticks dirt and bricks.
Not saying that you might move it in the future, but this excercise in auctioning left you in the red....
In that case according to you everything I own is worth $0 because they haven't been exchanged for money in the bank. Even all superannuation invested in shares/bonds/bank bills are worth $0 because they haven't been exchanged for money in the bank. I think we'll have to agree to disagree on whether my house is worth zero.
I was in the red from day one (had to pay for building and pest inspection, conveyancing, etc) I went even more in the red after I spent $100k on renovations. And yes, the marketing campaign costs us another $5k
But we still have a very nice house to live in - and that is certainly not worth $0 to us. We knew the auction was a $5k risk and like all the risks I have taken in my life, I don't regret them (favorable or unfavorable outcome) I have made money in shares and I have lost money in shares. But I would never say I wish I never invested in shares.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
In that case according to you everything I own is worth $0 because they haven't been exchanged for money in the bank. Even all superannuation invested in shares/bonds/bank bills are worth $0 because they haven't been exchanged for money in the bank. I think we'll have to agree to disagree on whether my house is worth zero.
I was in the red from day one (had to pay for building and pest inspection, conveyancing, etc) I went even more in the red after I spent $100k on renovations. And yes, the marketing campaign costs us another $5k
But we still have a very nice house to live in - and that is certainly not worth $0 to us. We knew the auction was a $5k risk and like all the risks I have taken in my life, I don't regret them (favorable or unfavorable outcome) I have made money in shares and I have lost money in shares. But I would never say I wish I never invested in shares.
What does $850K buy in Inner West Sydney anyway? Something built or renoed in the last 10 years and 20+ squares of living plus double car accommodation, 4 BRs and a bit of a yard? Or does one have to push $1M to get that? Just curious as to how crazy our prices really are.
Does this mean that you count my demand for a house by my decision to wait?
If you want a house, can't buy yet, and plan to buy later, then you have pent up demand for a house.
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I know that in any case, you will have an argument in your mind that "everyone wants to buy a house so it is either demand or pent up demand" so no specific need to reply.
Not really worth replying to other than saying the only fool is the person who thinks they can predict the future as if its a certainty.
only fool can argue that future is so unpredictable that decisions should not be based on likely predictions
there goes risk management - method that is completely misunderstood in today's world
it is true that nothing is certain, not just in future but in past as well, but it is equally true that some future events are more likely to happen than the others
only fool can argue that future is so unpredictable that decisions should not be based on likely predictions
there goes risk management - method that is completely misunderstood in today's world
it is true that nothing is certain, not just in future but in past as well, but it is equally true that some future events are more likely to happen than the others
Hah! Might have to leave you and Catweazle to fight that one out!! :excited:
For Aussie property bears, "denial", is not just a long river in North Africa.....
An early start to Canberra's traditionally strong residential spring selling season is unlikely to prevent a substantial drop in sales for the year.
Property commentators say it is the best buyers market in five years, but affordability at the lower end and fragile confidence could kneecap sales.
Australian Property Monitors senior economist Andrew Wilson said without the boosted first home owners grant which drove sales in 2009 and 2010 lower end buyers were largely excluded from the market.
''The other cohort, the discretionary buyer, the change-up buyer, the aspirational buyer, we are not in a gangbusters, high-confidence economy yet, so I suggest those buyers are inactive. We'll see a substantial reduction in sales this year compared to last year.''
The Housing Industry Association-Commonwealth Bank Housing Affordability index shows Canberra's strong median price growth of 11.6per cent from the June 2010 quarter to the June 2011 quarter has forced down the affordability index by 11.1 per cent over the year, the steepest decline in all jurisdictions.
Over the same period average days on the market have blown out from 47 to 72. Homes in Gungahlin's Bonner, Nicholls, Forde and Franklin and in the inner south's Forrest took the longest days on average to sell. All exceeded 100 days on average.
Dr Wilson said all home sales were individual but suggested price discounting was happening.
it is true that nothing is certain, not just in future but in past as well, but it is equally true that some future events are more likely to happen than the others
..so all your posts where you have been saying what "will" happen are bullshit.
In places with the bubble house prices crushed 50% or will in next few years. In places with no bubble they didn't. Same will happen here, the only difference is that there is no city in Australia with no bubble.
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The period between 1988 and 1991 was classical example why prices will fall this time.
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