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Houses in my Western Sydney suburb seem to be dropping; Proof included ;)
Topic Started: 19 Apr 2012, 09:55 AM (4,433 Views)
peter fraser
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Sweetdish
19 Apr 2012, 11:08 AM
TED BULLPIT
19 Apr 2012, 10:08 AM
Welcome aboard CareBear , some clown on here tried to tell me a few days back that western sydney was not dropping , I told them it was next.
Western Sydney will be smashed , mortgage capital , you need to just sit back and watch it collapse , forget about buying now, there is no rush and never will be ;)
The longer you wait the better off you will be. Bet the bulls would not have entertained such an idea not long ago but now it is reality , nearly full time bulls. :lol
Sounds about right.
A friend of mine bought in Leichardt a year ago for $700K.
His house is now worth about $650K going by the neighbours sales.

Remember that these inner West suburbs had some pretty strong capital gains over the past few years and it may just be a case of it coming down a bit of the top to stabilise. And it may very well be a good time to buy with some bargains floating around.

Your friend exchanged cash to buy a house that was worth to him - one house.

It's still worth one house, and will always be worth one house, until he converts that back to cash. Until that moment any theoretical change in value is theoretical and not real.

Any expressed market opinion is my own and is not to be taken as financial advice
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CareBear
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peter fraser
19 Apr 2012, 12:59 PM
Your friend exchanged cash to buy a house that was worth to him - one house.

It's still worth one house, and will always be worth one house, until he converts that back to cash. Until that moment any theoretical change in value is theoretical and not real.
Very true. Unfortunately the people that own the house I'm talking about will most likely be 60k out of pocket after owning the house for five years - that's not including stamp duty, any repairs, or interest payments on the mortgage for that matter... Scary...
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Mr Griffin
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peter fraser
19 Apr 2012, 12:59 PM
Your friend exchanged cash to buy a house that was worth to him - one house.

It's still worth one house, and will always be worth one house, until he converts that back to cash. Until that moment any theoretical change in value is theoretical and not real.
This is crap.

YAY they have a house who cares if it is worth zero. blah blah.

The fact is, if they waited even just to now, they would have saved $60k or thereabouts.

Compounded over 10, 20, 30 years, that is a lot of money.

You can't just go around overpaying for shit and saying it doesn't matter because you're not selling it.
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peter fraser
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Mr Griffin
19 Apr 2012, 01:28 PM
peter fraser
19 Apr 2012, 12:59 PM
Your friend exchanged cash to buy a house that was worth to him - one house.

It's still worth one house, and will always be worth one house, until he converts that back to cash. Until that moment any theoretical change in value is theoretical and not real.
This is crap.

YAY they have a house who cares if it is worth zero. blah blah.

The fact is, if they waited even just to now, they would have saved $60k or thereabouts.

Compounded over 10, 20, 30 years, that is a lot of money.

You can't just go around overpaying for shit and saying it doesn't matter because you're not selling it.
Well you are basing your whole argument on one property that hypothetically has gone down in value, when you know that I can get you one thousand examples that completely contradict your argument.

If you base your argument on one house over a particular cherry picked time frame, you will not have a strong argument for the long term with the broader market.

Houses are not shares, they are both a long term investment in wealth and a roof over your families head.

Now what is crap about that?

Any expressed market opinion is my own and is not to be taken as financial advice
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Catweasel
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peter fraser
19 Apr 2012, 01:49 PM


Houses are not shares, they are both a long term investment in wealth and a roof over your families head.

Now what is crap about that?
Catweasel laugh. That all a depend on what the white shoe the mouse listen too. How does it think it understand a long-term understand of a wealth base upon very simplistic the understand of a risk?
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Wisebear
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peter fraser
19 Apr 2012, 12:59 PM
...any theoretical change in value is theoretical and not real.

This is total garbage and I really would expect better from you.
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peter fraser
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Catweasel
19 Apr 2012, 01:59 PM
peter fraser
19 Apr 2012, 01:49 PM


Houses are not shares, they are both a long term investment in wealth and a roof over your families head.

Now what is crap about that?
Catweasel laugh. That all a depend on what the white shoe the mouse listen too. How does it think it understand a long-term understand of a wealth base upon very simplistic the understand of a risk?
You are assuming that all mouse are created equal. It's not correct, there is an investor mouse and a homeowner mouse.

I tend to agree with you to an extent on the investor mouse, but the homeowner mouse who wants to stay put and raise a family has a different set of priorities, that can't always be converted to cash.

What is the value of a photograph or a memory - it's not tradeable on the ASX, even though temporary love has a street value.



Any expressed market opinion is my own and is not to be taken as financial advice
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peter fraser
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Wisebear
19 Apr 2012, 02:17 PM
peter fraser
19 Apr 2012, 12:59 PM
...any theoretical change in value is theoretical and not real.

This is total garbage and I really would expect better from you.
No you wouldn't - you would rather criticise than understand.

Any expressed market opinion is my own and is not to be taken as financial advice
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Wisebear
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peter fraser
19 Apr 2012, 02:18 PM
Wisebear
19 Apr 2012, 02:17 PM
peter fraser
19 Apr 2012, 12:59 PM
...any theoretical change in value is theoretical and not real.

This is total garbage and I really would expect better from you.
No you wouldn't - you would rather criticise than understand.

I do understand and that's why I know your statement is garbage.

I'm always happy to criticise the bulls and slap them down when they speak nonsense but I've really been astounded by some of the arguements and justifications being used by the bulls as the property market deteriorates.

This old line about a loss not being real until the asset is sold will never cease to amaze me.
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Catweasel
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peter fraser
19 Apr 2012, 02:17 PM
You are assuming that all mouse are created equal. It's not correct, there is an investor mouse and a homeowner mouse.

I tend to agree with you to an extent on the investor mouse, but the homeowner mouse who wants to stay put and raise a family has a different set of priorities, that can't always be converted to cash.

What is the value of a photograph or a memory - it's not tradeable on the ASX, even though temporary love has a street value.


Catweasel laugh. Its membrane already been a violated by a mainstream illusion. If householder mouse know a now that its future situation is not a fancy as master/expert/white shoe/mouzealot/media suggest, it can exercise will not to play in its game.

Idea that housholder owner willing to accept loss more than investor mouse is a batshit crazy when house price nudging stratosphere.

But that one lost on the white shoe.
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