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Do Not Buy Australian Real Estate; 5 undeniable reasons to be wary!
Topic Started: 8 Oct 2012, 11:57 AM (19,351 Views)
stinkbug
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Timo
11 Oct 2012, 10:21 AM
You just proved me right on every level. Enjoy your greed built on the suffering of others. As a human with a conscious, you FAIL.
Yawn.

More of the same ranty, whiny, emotive bullshit without an ounce of fact or truth.

Did you know almost all of my tenants never move out? I like good tenants and go to great effort to look after them. They are hardly suffering!

It's people like you who who want everything for nothing, do no useful work and do not contribute financially to our country who are the real parasites.
---------------------------------------------------------------

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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NotFooled
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The Bear Whisperer

Timo
11 Oct 2012, 10:21 AM
You just proved me right on every level. Enjoy your greed built on the suffering of others. As a human with a conscious, you FAIL.
Entitlement mentality + laziness + greed = whiny little bitches named Timo and Moops
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Pig Iron
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Bogan scum

Timo don't forget the rent on monday
I am the love child of Tony Abbott and Pauline Hanson
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skid row
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NotFooled
8 Oct 2012, 12:47 PM
The only person demonstrating greed is you which is something you steadfastly avoid denying. Pure, unadulterated greed in wishing for a crash so you can buy a property without working for it like everyone else.

Hoping for economic Armageddon that will bring pain to large numbers of struggling Australians is a disgusting and morally indefensible position. The only scum here is you.
What is greedy about wanting to buy a property at the same or similar multiples of income as did the vast majority of baby boomers? I readily concede Sydney has always been more expensive but in Tassie you would be struggling to find any boomer who paid more than 3 times household income. I purchased a lovely 4 bedroom double brick federation house in New Town in 1996 for $143k which was at that time less than 2.5 times my single income and no one suggested at that time that the house was particularly cheap. ABS Median houshold income was just over $50k in 2007. A nice-ish three bedder in any of about 8 better suburbs in Hobart is about 500k or nearly 10 times median household income. All this in a low income low or negative population growth region.
skid row
11 Oct 2012, 12:25 PM
What is greedy about wanting to buy a property at the same or similar multiples of income as did the vast majority of baby boomers? I readily concede Sydney has always been more expensive but in Tassie you would be struggling to find any boomer who paid more than 3 times household income. I purchased a lovely 4 bedroom double brick federation house in New Town in 1996 for $143k which was at that time less than 2.5 times my single income and no one suggested at that time that the house was particularly cheap. ABS Median houshold income was just over $50k in 2007. A nice-ish three bedder in any of about 8 better suburbs in Hobart is about 500k or nearly 10 times median household income. All this in a low income low or negative population growth region.
PS: The median household income figure of just over $50k was for Tassie only.
Edited by skid row, 11 Oct 2012, 12:28 PM.
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Sweetdish
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Timo
8 Oct 2012, 11:57 AM
You'll never hear any of the Property Pig brigade say that its not the time to buy, even when conditions are ripe for financial loss and devastation, there's "never been a better time to buy. Here are just 5 reasons it has NEVER been a worse time to buy real estate in Australia.

1: Housing Finance: At a 35 year low! Who is taking out the loans? Perhaps a few wealthy fools with more money then sense, hence the alleged "increase in capital house prices". Debunked.

2: New home sales: At a 15 year low! The typical victims the Australian Ponzi Scheme relies most heavily on - FHB - can't afford to pay 500k for a flimsy box in the middle of no where anymore. Which brings me to my next point.

3: Building company collapse: Building companies folding at record pace, on the east coast of Australia alone in March of this year 80 building companies went under! Adding to our increasing unemployment rate by the fistful.

4: Increasing unemployment: Forget the ABS 5.1%!!! They classify an employed person as working more then 1 hour of paid work per week! 1 Hour!!! Roy Morgan is a much better bet at 10% identifies both those unemployed and underemployed (the ones living off 1 hour p/week!). Look also to the drop in retail spending, where is it going? Straight to the banks in interest, while companies go under and jobs are lost.

5: Mining slowdown: This is a biggie and well known. Discussed on here in a previous thread, this spells major trouble for the continued wealth and success of Australia. Apart from income lost, jobs are going too. BHP didn't delay a multi-billion dollar expansion for nothing, these guys don't make a killing by making stupid decisions. They know the game is up, and mining will never be the same again.

The irony about the current state of the Real Estate market is that immoral and wealthy welfare tax dodge aka negative gearing is Government sanctioned! There are a whole cohort of greedy property investors and the like that will claim they are putting a roof "over your head"! Meanwhile property infestors buy established properties 92% of the time, which does NOTHING to contribute to housing stock. It simply makes it even less affordable for the average young Australian family to put a roof over their own heads.

Don't despair however folks, the market is poised to crash, poised to revert to the long term trend and restore some balance and equity in the Australian economy. So my message is continue to watch your healthy deposits grow and grow, while house prices come down and down. It will result in a more sustainable Australia for everyone.

Cheers!
So much misunderstanding and desperation....

There is no doubt in my mind that house prices are currently going up, at least where I live. Sydney inner East.
Its my belief that those who didn't buy earlier this year missed the boat for now.

You can whine and cry all you want about greed and property crashed which probably not eventuate any time soon.
It wont change anything - like a dog barking at traffic.

Property Bears are obviously missing the whole point of property. I sometimes wonder if its due to a lack of mathematical understanding,
resentment to those better off or simply wishful thinking.

With property, there are a few basic truths that will always hold true;

1) It doesn't matter what happens to the property market short term. Real Estate is a long term game.

2) When you buy a property, unless you have a huge deposit, the monthly costs will always be considerably higher in the first few years.
After a while, the cost of paying the bank will be the same as the cost as renting.
Eventually the costs will be less, and it will keep on going down until one day they are minimal.

3) Rents will ALWAYS go up long term.
Mortgages will ALWAYS go down long term. (regardless of interest rates)

4) In the end, you are either left renting for the rest of your life or eventually living for free.

If you get this simple logic you can disregard the rest as its not important.
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WestAussie
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skid row
11 Oct 2012, 12:25 PM
What is greedy about wanting to buy a property at the same or similar multiples of income as did the vast majority of baby boomers? I readily concede Sydney has always been more expensive but in Tassie you would be struggling to find any boomer who paid more than 3 times household income. I purchased a lovely 4 bedroom double brick federation house in New Town in 1996 for $143k which was at that time less than 2.5 times my single income and no one suggested at that time that the house was particularly cheap. ABS Median houshold income was just over $50k in 2007. A nice-ish three bedder in any of about 8 better suburbs in Hobart is about 500k or nearly 10 times median household income. All this in a low income low or negative population growth region.

PS: The median household income figure of just over $50k was for Tassie only.
Have to agree with you on that one we noticed it a few years ago and more people are realising it now. What's worse is old people still think buying property is how to make money. I've met many a 35+ who doesn't know what excel is let alone how to show a comparison of gains from either housing, bonds, deposits or the market. They are just floundering around closing their eyes and prayin for gains on their properties when they go to sell them but don't realise they could make more money saving it unless the growth has been constant and above 1.03/4% tell them that investment should never be negative and they sit there dumbstruck and rely on 'its a long term thing' lol which is why the young generation has been building up wealth faster than they did without working 50 hour weeks and missin out on their prime years. So sad but they will never listen so dont try. It's the same here in Perth everyone stopped buying because its around 6-10x income to buy and when you do you get a 1970's derilict porno house with no insulation and broken plumbing. No thanks lol
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Timo
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timmy
11 Oct 2012, 12:11 PM
Timo don't forget the rent on monday
Caught with bullshit in your mouth again?
NotFooled
11 Oct 2012, 10:34 AM
Entitlement mentality + laziness + greed = whiny little bitches named Timo and Moops
Property infestors are the greediest self entitled scum bags out there! Have a look in the mirror, actually, don't, you'll scare the shit outa yourself.

Spruik Spruik Spruik, deny deny deny.
Edited by Timo, 12 Oct 2012, 02:39 PM.
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

Timo
12 Oct 2012, 02:37 PM
Caught with bullshit in your mouth again?

Property infestors are the greediest self entitled scum bags out there! Have a look in the mirror, actually, don't, you'll scare the shit outa yourself.

Spruik Spruik Spruik, deny deny deny.
You almost got the wording right timo
Like I said before, save the effort and use this instead.

Posted Image
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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Pig Iron
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Bogan scum

Timo
12 Oct 2012, 02:37 PM
Property infestors are the greediest self entitled scum bags out there!
"I know you are you said you are so what am I?" - that's as sharp as Timo's come backs get.
I am the love child of Tony Abbott and Pauline Hanson
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stinkbug
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Timo
12 Oct 2012, 02:37 PM
Caught with bullshit in your mouth again?

Property infestors are the greediest self entitled scum bags out there! Have a look in the mirror, actually, don't, you'll scare the shit outa yourself.

Spruik Spruik Spruik, deny deny deny.
You know that Vanilla-Ice invented rap, right?
---------------------------------------------------------------

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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