I saw this the other day,
Homeowners and investors just don’t see the storm clouds that are on the horizon. The rising tide of asset prices that have supported consumption this last decade is coming to an end. Like cargo ships overloaded with cargo in a violent storm, debt-laden balance sheets and no savings have left households ill prepared for the storm that lies directly in front of them. Instead of taking precautionary steps as the equity bubble burst, consumers have been led astray by the next bubble. Most investors follow whatever is hot. For the last three years, real estate has been “the place to be.” But just as expanding credit helped to create the stock market bubble, it has also led to a mortgage bubble, which spilled over, into the housing market creating yet another asset bubble.
Look what happened with the stock market when it was traveling to fast, the bubble burst.
Hi,
What was the source?
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Paul, I think here lies the crux of your beef with this site. Most people on this site use and understand, that if you look for bargains with excellent returns, then the bubble pop that you refer to will not affect them too badly. People who are relying on cap gains will be burnt, because the income will be harder to sustain – ie higher renters will be vacant for longer, while people look for value.
If you watched 4 Corners last night, you would have noticed the emphasis there on units in CBD’s bought off the plan for above market prices – now these are the people who should know better, but are easily led by smart marketing.
They didn’t want to do the hard yards of due diligence, as we do, and they have learned a hard lesson.
[
]And how is this forum any different to those crooks last night????
Paul277,
I am in no way associated with selling property as a backend to seminars or this website.
My aim is to teach people to fish, not fish for them.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hey Paul,
Here is how it is different for me.I have earnt $70K through renovation this financial year. My Property nett worth has increased from $150K to $550K. I have done a wrap which was great fun and more will happen (and I made money and helped someone).
This was all due to this site and more specifically Steve McKnight. You can rave on all you want but I know that Steve has helped me achieve things I would not have done by myself or done nearly as quickly.
The seminar last year was for me a great event that clarified many things and taught me many more knew things. My friend I went with also benefitted greatly.
In summation I do not believe Steve is a crook. He has helped me and many others at least start on their journey to freedom. You were lucky that you had sage people in your family to help you but some of us didn’t and needed outside help.
It may take many more years but the path I am now on is one of freedom. The person who first lit that path for me was Steve McKnight. I appreciate what he did and I appreciate what others on this site do to encourage each other (me included) on toward freedom.
Smell the roses Paul and don’t worry. If Steve is a crook then time will prove that. I personally feel that you are a long way from the truth on that call. Let each person make their own mind up.
Enjoy
AD [:0)]
(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert EinsteinBut in the mean time you still charge them huge amounts to come and hear you talk, and you sell them hope,
What the hell is wrong with selling hope?
The masses generally follow the leader, and don’t believe there is any….but there jolly well is. If Steve and others can change this, then good on them.
My dad had a great saying, and I think it is so applicable to your postings about this site.
“Nil desperandum el bastardo”
loosely translated means – don’t let the bastards get you down.
And we won’t.
Keep on[][][]ingEnough!
I’ll not let one person with a chip on his shoulder cause the integrity of this forum to be questioned.
AD is right, if by my actions history deemes me a fraud then let it be so. But until then, let’s ALL focus on helping other people achieve their goals with helpful posts.
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
By the way I should add that I get nothing from Steve in way of financial rewards for moderating. I will go to the next seminar because I love meeting people who are keen to learn and do things (it will be great to put some faces to names). I do the forum because it is great to learn and help others.
I just wanted to say thanks to you people out there who make this forum happen. That is not just Steve and the guys at PI.com but all you who read, post and share. May we continue this journey together and become great friends along the way challenging each other regularly on how we do real estate.
Enjoy
AD [:0)]
(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein
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