Skamy, ask yourself, who benefits most from the status quo in Australia?
I'll give you a clue:
Excellent point Veritas.. and who benefits from all the tax on profits they make?
Not to mention the nice juicy 100% franked dividends they pay to shareholders as well?? I own a bunch of those shares directly - plus probably everyone here has an equity stake in them via their super fund. Capitalism at work Veritas - aint it grand??
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
I actually agree with some of your views Veritas - i do think the timing is off though. I would be surprised if we don't get a major correction in some areas within the next decade.
i followed miw to said casino but lost all my fckn money before i made it to the bar
I actually agree with some of your views Veritas - i do think the timing is off though. I would be surprised if we don't get a major correction in some areas within the next decade.
I am not waiting for a correction.
Its not my game; I will carry on regardless.
Its the politics of all of this that interests me.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
I plan to give the properties I have bought to my kids when they grow up. I prefer to buy them when the prices are lower than when they are higher. Apologies if this doesn't fit in with your agenda.
Maybe your kids wont want to live in the back streets of some slum. Then what?
I plan to give the properties I have bought to my kids when they grow up. I prefer to buy them when the prices are lower than when they are higher. Apologies if this doesn't fit in with your agenda.
What about other peoples kids?
Don't worry, he will probably lose them in the future anyway, look at the property market now, it's only held together by fear and blatant lies. When the rug is pulled out and the rush for the exit starts you wont be able sell for love nor bribes. His kids will be stuck with his old mortgages is all.
I never thought you were waiting for a correction.. im not waiting for one either but do think it's likely to happen one day
I expect it to happen too, (stock market especially). That does not stop me investing in equities. Timing it perfect is near on impossible, not all sectors collapse at the same time and not all companies in the same sector even suffer as bad as their peers.
Age and and my personal economic conditions have much influence on my decisions. If I was 60+, I would be taking a different approach to my financial well being.. as I would be at 40+ too, the focus of my investment/wealth preservation strategy will change as I grow older and less risk and more stability will be the order of the day.
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
the US is not improving ,in 2008 , they owed about 10 trillion, now its about 17 trillion and rising. And now we owe more than them as a percentage of our gdp ,so ours is now rising faster than theirs. The euro is now collapsing after they spriuked the euro problems were solved, and now our mining boom here is over we have nothing left either but rising debt and no jobs to pay for it.
Source for this claim?
Which part of what I said are you doubting? so I can get a source for you.
Skamy, ask yourself, who benefits most from the status quo in Australia?
Are you naive enough to think that will change? It has always been the banks who gain the most. You and I have/had two choices we buy where there is some hope of a return or we rent from the rich with no hope of any returns.
Sitting around complaining about the banks squeezing the max from homebuyers ain't gonna put a roof over your head.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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