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Australian savers punished by rate cuts; Savings account rates down 0.55%, double RBA cut
Topic Started: 12 Dec 2011, 09:09 AM (6,477 Views)
raveswei
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Quote:
 
Except that it's possible to find properties that don't make losses, and still make enough yield within 2-3 years of ownership to cover the holding costs.


It's possible to lend gold for a small yield as well - much more possible, but still that doesn't make it less speculative

Quote:
 
What about these properties? Or all ALL Australian properties loss-making, speculative investments?

Almost all (99%) of all investment properties you can buy in Australia are loss making speculative assets. Few with positive yield carry some other risks: bad construction, violent or run down suburbs, expected large capital loss over the short term, temporary inflated yield (mining towns where price is expected to crash when boom ends
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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stinkbug
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raveswei
1 Mar 2012, 02:39 PM


Almost all (99%) of all investment properties you can buy in Australia are loss making speculative assets. Few with positive yield carry some other risks: bad construction, violent or run down suburbs, expected large capital loss over the short term, temporary inflated yield (mining towns where price is expected to crash when boom ends
That's an interesting viewpoint. Got any evidence to back it up, or is it just gut feel?
---------------------------------------------------------------

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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Sydneyite
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raveswei
1 Mar 2012, 02:39 PM
Almost all (99%) of all investment properties you can buy in Australia are loss making speculative assets. Few with positive yield carry some other risks: bad construction, violent or run down suburbs, expected large capital loss over the short term, temporary inflated yield (mining towns where price is expected to crash when boom ends
Complete rubbish! 99% of investment properties in Australia have POSITIVE yields ranging from 3-10%.

I suspect you are trying to say that the yields are negative if the asset is bought with borrowed money? That's a bunkum argument - what's the yield of gold if I borrow $AU to buy it???

PS: To those going on about fiat currency and the past gold standard etc, you all talk about the removal of the "pseudo gold standard" in 1970 in the US for USD - but can anyone tell me when was the last time I could have swapped my Australian dollars (or pounds) for gold at the RBA whenever I felt the need?
For Aussie property bears, "denial", is not just a long river in North Africa.....
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NotFooled
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The Bear Whisperer

I have some gold (and a smaller amount of silver) just in cast the shit hits the fan. Its a hedge against certain disaster scenarios that I hope will never happen. If gold goes above $2000 an ounce I might consider selling however.
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Admin
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Administrator

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Australians increasing savings to pay down debt: ING Direct

By Patrick Stafford
Friday, 20 April 2012

The ING Direct financial wellbeing index has improved in this quarter from 105.6 to 106.9, and more people are increasing their savings rate to pay down debt.

However, 24% of households said their income had decreased in the past 12 months.

The number of people looking to start an online business in the next 12 months increased from 1% to 7%, with 6% of people also saying they want to start a business in general, up from the previous result of 2%.

The survey also showed that Victorian borrowers were most comfortable with their level of mortgage debt.

ING Direct executive director Rob Hendriks says that although some Australians feel they remain under financial pressure, they are "very clever" at finding ways to make money.

"Australians are very creative in boosting their income. We see an increased effort in selling goods online, taking additional jobs, and especially in New South Wales we see a lot of women entering the workforce."

"People are creative in finding ways to make money, and especially, people are looking for opportunities in online stores."

Hendriks says online stores are attractive, as people can potentially work part-time, without requiring a lot of investment.

He also points out one in 10 households are finding ways to sell household possessions without buying new ones, earning cash through sales. Also, 9% say they sell goods for extra cash, while 8% are doing odd jobs.

The results reveal a positive picture overall, with 46% of households saying they earn more than they did a year ago – and that increases to 55% in Western Australia. 68% of households say they are comfortable about savings – the median rate is $7,500 – although 20% of households have no savings at all.

Hendriks says although there are some downsides, such as 29% of 55-69 year olds having lower incomes than they did last year mostly due to cuts in working hours, the overall picture is good.

"There is some obvious negative news for some direct groups, but I think definitely the picture has improved."

"One in four are facing reduced incomes, yes, but the positive news is that 46% are earning more than they did a year ago."

Hendriks says while the overall economic situation is challenging, consumers are focused on savings and paying down debts.

"That's a mature response, and the overall Australian situation is still positive."

Read more: http://www.propertyobserver.com.au/economy/australians-increasing-savings-to-pay-down-debt-ing-direct/2012041954316
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Shadow
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Evil Mouzealot Specufestor

dave289
29 Feb 2012, 02:53 PM
Trojan just keep going , so we can return later to see who doubted who , who was right and who was wrong

If you guys want something else to laugh at and can look back on in time to see who was right have a listen to this one

in my old thread I had predicted that gold would break 2000 an ounce in 2012 and this was around the beggining of last year, no great prediction I know but thats not the point I will get to , somebody also asked when GOLD WOULD HIT $5,000 AN OUNCE , while I was reluctant to put a prediction on this , I responded with , If someone was to give me a million dollars today and said I had to place it all on one year that gold would reach 5,000 , I would place it on 2014

I dont know where it will be in 2014 or even the end of 2012 but I do know it will go up and up and up.

And here is my prediction for you , over the next year or so you will see the price of both gold and silver grow strongly , you will see more and more people lose there jobs and you will see australia in the mist of the biggest gold rush since the good old days , this should start to become obvious in another year or two.
.
You will see people start to rush gold mining towns and they will become bigger than the old days , prices of houses in these mining towns should see strong growth over the short term meaning 2 to 4 years , it to hard to say what will happen after that time at this stage .

So there you have it folks , australia will be in for a gold rush in the next year or so
So... Dave289... you said you wanted to return to this thread later to see who doubted who, who was right and who was wrong.

You said if we wanted something else to laugh at we could look back in time to see who was right?

So, this gold rush you said we would be in the middle of by now, and gold at 2000 in 2012, and 5000 in 2014... are we still on track?
Edited by Shadow, 27 Sep 2013, 11:26 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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Elastic
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You're a cruel man Shadow.
Only a rat can win a rat race.

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b_b
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Elastic
27 Sep 2013, 11:38 AM
You're a cruel man Shadow.
I was about to write the same thing....but gee it's entertaining.
Edited by b_b, 27 Sep 2013, 11:39 AM.
(S – I) + (T - G) + (M - X) = 0
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Trojan
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b_b
27 Sep 2013, 11:38 AM
I was about to write the same thing....but gee it's entertaining.
+1

Crazy dave took a go at me and time has indeed told who is right and still around
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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Frank Castle
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Business As Usual

Oh the hilarity :lol
And then there was his moronbah diesart call of prices to the moon and untold riches

Vacancy rates of as much as 13.5%
Rent prices dropping by as much as 58.2%
and asking sale prices dropping by as much as 23% is the reality of that call.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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