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Do Not Buy Australian Real Estate; 5 undeniable reasons to be wary!
Topic Started: 8 Oct 2012, 11:57 AM (19,355 Views)
Timo
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kennyjaiz
8 Oct 2012, 04:20 PM
I'm not sure you answered the question - why should they have the right to choose?
Roof over their head is a basic need - rental properties/ public housing satisfy that basic need.
Choice is a luxury.

So what informs this perception of yours - that young Australian families are entitled to this right to own?
Because this is wealthy westernized nation which once offered exactly that choice. Only greedy property pigs speculated in the market, not content in having their own home, felt it necessary to own someone elses HOME also. Its immoral, end of story.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Frank Castle
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Business As Usual

Shakes head with despair at the idiocy of the whiney little biatch above
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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Timo
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Frank Castle
8 Oct 2012, 04:33 PM
Shakes head with despair at the idiocy of the whiney little biatch above
Sorry that I don't support your insidious destruction of this nation. You should be ashamed of yourself in all seriousness.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Pig Iron
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Bogan scum

Timo
8 Oct 2012, 04:31 PM
Because this is wealthy westernized nation which once offered exactly that choice. Only greedy property pigs speculated in the market, not content in having their own home, felt it necessary to own someone elses HOME also. Its immoral, end of story.
what you are proposing is socialism. if we went down that path we wouldn't be a wealth western country for long.

remember that rent is due next monday again.
I am the love child of Tony Abbott and Pauline Hanson
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NotFooled
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The Bear Whisperer

Frank Castle
8 Oct 2012, 04:33 PM
Shakes head with despair at the idiocy of the whiney little biatch above
An incredibly whiney little bitch that thinks the world owes him a living. He's in for a very rude awakening over the next few years.
Edited by NotFooled, 8 Oct 2012, 04:45 PM.
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frankrider
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Timo
8 Oct 2012, 04:15 PM
There should be a right to choose, at the moment there is not because property infestors have speculated in a market where young Australian families are just trying to put a roof over thier head.
Timo, the property investors have as much right to buy the houses as owner occupiers, we are not a communist country you know. The investors have been happy to pay ever higher prices because they believe rental incomes will cover the huge costs, hence they have fought each other and bid against each other in many cases for the right to own the homes.

They have distorted the market, and as we clearly see, it is now correcting. The rents many assumed they would achieve were never realized and now their plans are going sideways. That is why you see so much arrogance and anger here from them.

Just keep saving and watching prices come down, in a decade or less homes will be cheap as chips, like in Japan, and you will be able to take your pick. Most of the property investors are not like the ones here, believe me. They are average married couples who re mortgaged their home to buy a house they saw for sale down the street. They have no idea of property cycles, no real understanding about what they have bought into, when they begin to see their mistake they will flood the Australian market and collapse it.

Negative gearing is a form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan

A negative gearing strategy can only make a profit if the asset rises so much in price that the capital gain is more than the sum of the ongoing losses over the life of the speculation. http://en.wikipedia.org/wiki/Negative_gearing
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Pig Iron
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Bogan scum

frankrider
8 Oct 2012, 04:54 PM
Just keep saving and watching prices come down
all the anger and rage is from timo. just look at his posts, or do you think calling people "scum" and demanding they leave the country is not internet rage?

prices have been rising since may. that is the source of bear rage from timo and co.
I am the love child of Tony Abbott and Pauline Hanson
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Frank Castle
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Business As Usual

frankrider
8 Oct 2012, 04:54 PM
The rents many assumed they would achieve were never realized and now their plans are going sideways.
That explains why my rents have increased by 100% +- since purchase and my plans have been brought forward several years.

Oh wait............................
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The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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herbie
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Timo
8 Oct 2012, 04:31 PM
kennyjaiz
8 Oct 2012, 04:20 PM
I'm not sure you answered the question - why should they have the right to choose?
Roof over their head is a basic need - rental properties/ public housing satisfy that basic need.
Choice is a luxury.

So what informs this perception of yours - that young Australian families are entitled to this right to own?
Because this is wealthy westernized nation which once offered exactly that choice. Only greedy property pigs speculated in the market, not content in having their own home, felt it necessary to own someone elses HOME also. Its immoral, end of story.
30% of Aussies have been tenants for 50 years now Timo - It's actually one of the few very stable stats.

I agree with your contention that it would be better if prices were lower. But there's heaps of other things wrong too.

You can't just 'fix/fiddle' one part of any sort of complex system without running a very high risk of fucking up the whole system.

I don't actually want an answer to this mate but if by any means you should happen to be someone who is pretty much fated to never earn more than $50K pa and you are single and/or don't expect your missus to have to go out and earn another $20K pa, chances probably are you'll still be one of the 30% of Aussies who rent when you retire. Regardless of what house prices do. With that sort of competition having been around for 50 years as I said ... And prior to that it was higher!

Hmmm ... True storey: Was chatting to an Indian taxi driver last Wednesday night - He reckoned Oz is a VERY good country. Because there is NO competition. And reckoned it was a very easy country to 'live' in. (With me getting the feeling at the time that he meant the word rather literally as 'stay alive in'.) It's all relative of course ...
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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kennyjaiz
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Timo
8 Oct 2012, 04:31 PM
Because this is wealthy westernized nation which once offered exactly that choice. Only greedy property pigs speculated in the market, not content in having their own home, felt it necessary to own someone elses HOME also. Its immoral, end of story.
Herbie and Frankrider have provided some perspective. Whether you are willing to adjust your sentiment, is really up to you.
I appreciate that it can be frustrating to observe discrepancy between what is happening (e.g. high property price), and what you believe ought to happen (e.g. price at an acceptable level, whatever this level may be). The truth is, people will always try to look after themselves first - call it greedy, call it practical or call it natural selection - it's immaterial. If you believe the current property market is unsustainable and you prefer to hold off from buying, that's an acceptable position - you are not the first, and you will not be the last. However, attributing you own moral judgement, and resort to name calling (e.g. greedy pigs), is unlikely to achieve much - it doesn't even make you feel better over the long-term.

Before we go on, I feel obliged to disclose that I am what you would refer to as a greedy property pig. I don't speculate the market, but I do own more than just my own home. Unsurprisingly, I rent out my investment properties for a fair price. With the recent interest rate drop, I would at least be neutrally geared, if not slightly positively geared, overall. I was 24 when I bought my first home 7 years ago on a graduate salary, and I worked a night job, as well as a weekend job to try and pay it down as much as I can. It's not glamorous, but I don't recall spending my precious time on forums complaining that I felt hard done-by - perhaps that's where I went wrong.
Edited by kennyjaiz, 8 Oct 2012, 06:22 PM.
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