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Oz bubble goes mainstream; Kochie tells it like it is
Topic Started: 8 May 2012, 12:20 AM (3,773 Views)
earthsta
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Sell now bulls or be locked into negative equity forever :tu:
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TED BULLPIT
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Mr Griffin
8 May 2012, 09:53 AM
Yea. An extra $10/week should compensate $1,000 per week being wiped of the capital value.
My other concern would be insurance premiums rising above rent increases over the short term. I heard yesterday that Suncorp would no longer take out new policies in two flood prone towns , and existing policy holders may face ten fold increases. One could only imagine what this will do for the towns .So to spread it around , everybodies premiums will be rising no matter where they live , and it wont be just house insurance that will rise. Major motor vehicle insurers have also copped big loses over the last year or so , so more increased premiums to spread around.

Add the carbon tax in a month or so along with tonights budget for which I believe its the worst in 25 years and things will be looking less favourable again.

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peter fraser
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TED BULLPIT
8 May 2012, 10:40 AM
Mr Griffin
8 May 2012, 09:53 AM
Yea. An extra $10/week should compensate $1,000 per week being wiped of the capital value.
My other concern would be insurance premiums rising above rent increases over the short term. I heard yesterday that Suncorp would no longer take out new policies in two flood prone towns , and existing policy holders may face ten fold increases. One could only imagine what this will do for the towns .So to spread it around , everybodies premiums will be rising no matter where they live , and it wont be just house insurance that will rise. Major motor vehicle insurers have also copped big loses over the last year or so , so more increased premiums to spread around.

Add the carbon tax in a month or so along with tonights budget for which I believe its the worst in 25 years and things will be looking less favourable again.

They will get insurance Ted, but they may struggle to get flood cover in their policy.

Any expressed market opinion is my own and is not to be taken as financial advice
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earthsta
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Mr Griffin
8 May 2012, 09:53 AM
stinkbug
8 May 2012, 12:42 AM
I might put your rent up again.
Yea. An extra $10/week should compensate $1,000 per week being wiped of the capital value.
Not to mention that his dump will sit empty for an extra 4-6 weeks per tenancy, requiring 3-4 years of rental income to make up for it.
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Ex BP Golly
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themoops
8 May 2012, 12:20 AM
Koshie saying stuff like this has to freak average joye blow.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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audas
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stinkbug
8 May 2012, 10:16 AM
Here's the problem - I've already made a lot of money from property, and the properties I own are, without exception, in areas with very high demand. I've been keeping an eye on prices for these areas, and so far I have one suburb flat and others still rising. I have some properties that have tenants who simply won't leave, because they know they won't be able to find another similar property at the price they currently pay (don't forget some states have rules around how much you can increase the rent by each year).

I don't expect my properties to rise continually. In fact, I think several of my properties have risen too far and are due for a pullback. But when I look at the prices I actually paid, and that in most cases properties that are cashflow positive even on P&I loans, it seems less risky to simply hold on for the longer haul. No doubt we'll have some stagnation even in high demand locations, but my longer term plan is to live of the rents I get, and while rents keep rising, and the loans keep reducing, I'm more inclined to let it run.

Is it possible to make more money elsewhere? Almost certainly, but the risk is much, much higher. Also, I don't want to incur the costs of selling, especially CGT.
Average prices falling 40%, properties flooding the market as sellers can no longer hold out for the sale and will take anything they can get - even if its rent for nothing,
mortgagee sales.....if you don't OWN your properties out right, and you don't, you are about to take a massive hair cut. And that really doesn't mean anything to any of us, plenty would be happy to see you fall due to your levels of self interest and arrogance - however - you have an obligation to yourself to take this seriously as your about to get seriously shafted.

I know your not the type who is mature enough to ever admit they were wrong, but the simple fact that you are spread wide and thin in a collapsing market is all the evidence we need you are stuffed.


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themoops
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stinkbug
8 May 2012, 12:42 AM
I might put your rent up again.
Yes well, the world will just have to put up with scum parasites like yourself who will seemingly get away with grand theft.

If properties crash by half, how will your finances look then?
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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TED BULLPIT
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peter fraser
8 May 2012, 11:14 AM
They will get insurance Ted, but they may struggle to get flood cover in their policy.
Problem is in a flood prone area the one type of insurance you need if any is flood cover and there in lies the problem Mr Fraser. I did see a spokesman say someting about reviewing it at a later stage but cant remember if he said something about it being after high dam building or having more preventative measures being put in place.

The othe problemm is existing customers having to pay so much more to renew their policy. Most people in these areas are on tight budgets and will simply be unable to afford it. It will be hard times on these two little towns.
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Frank Castle
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Business As Usual

TED BULLPIT
8 May 2012, 11:57 AM
Problem is in a flood prone area the one type of insurance you need if any is flood cover and there in lies the problem Mr Fraser. I did see a spokesman say someting about reviewing it at a later stage but cant remember if he said something about it being after high dam building or having more preventative measures being put in place.

The othe problemm is existing customers having to pay so much more to renew their policy. Most people in these areas are on tight budgets and will simply be unable to afford it. It will be hard times on these two little towns.
Flood insurance, who needs it ;)
Any council with any sort of intelligence would not have let low set or high set with built in underneaths ever get done.
I have several old qlders in flood prone areas and they have gone through a couple, last one had a metre of water through some of the yards for about a week .
All power, switchboards, HWS etc must be above max flood heights
A few hours with the gerney when it receded and all was good again, no damage done .
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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TED BULLPIT
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Frank Castle
8 May 2012, 12:24 PM
Flood insurance, who needs it ;)
Any council with any sort of intelligence would not have let low set or high set with built in underneaths ever get done.
I have several old qlders in flood prone areas and they have gone through a couple, last one had a metre of water through some of the yards for about a week .
All power, switchboards, HWS etc must be above max flood heights
A few hours with the gerney when it receded and all was good again, no damage done .
While yes some flooding can be minor and probably not so costly , others are not easily fixed if water has remained for extended peroids of if it rises higher than usual.
You are right about narrow minded councils aproving some areas for building but its probably about money grabbing with little thought. Yes it may not of flooded badly for 30 , 50 years or whatever and then they take the narrow minded view it wont happen again.

Just like this desal plant, they thought we would be in a drought for ever and thought we needed to build this thing. The farmers all thought it would never rain again , but now look it is flooded everywhere the dams are now overflowing , we dont need any bs expensive desal plant.

We only needed to look to our primary school years for the answer.

Some of you might remember a poem with the line
" A land of droughts and flooding rains'. And this could not have prooved more true over recents
times.
Still Mr Castle cleaning up after flooding is still time consuming , not to mention a pain in the arse even if it does not cost you too much. And surely it must affect tennants in someway , asuming you dont have insurance you must have to compensate by giving a couple of weeks free rent or something.
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