i tend to agree with milly, that recession is short lived and if we have the capital to pull through this, then this should be a profitable period for us investors with the bargains to be found.
I agree-if you arnt on the limit you will be in a win/win situatuon. Problem is sooooo many people out there are on the brink. Seriously how can so many people afford $600+ houses these days? Its allllll debt and praying that their equity will continue to rise, inflation will stay low and their head will stay above water…
it mite be very well true, but the situation is different to the 80s, ppl are more educated now, more financially stable and government interventions are more effective so to speak. well thats only my opinion anyway
People are more educated now?? This would have to be one of the more frightful comments-thanks to the media everyone is an armchair expert when it comes to property these days EXCEPT they all 'KNOW' that property will keep increasing at 20% a year!! AYou are one of the few who have even bothered to ask the more experianced people out there what the past was like. WHo knows property might just continue up forever, but if our current debt levels are anything to go on I highly doubt it. We have experianced unprecedented highs, which will most likely be followed by unprecedented lows.
Government are more effective? Nope there a scared poopless at the inflation geanie that has been let out of the bottle
I hope some more knowledgeable people reply to your post.
My guess is that during a recession, interest rates are high so it becomes a struggle to hold on to your property. On the other hand, if you are cashed up and ready to go, there should be some bargains to be made as there will be a glut of people needing to sell. Properties go down in price.
On the other hand everyone needs a place to live. I think the govt will need to put some incentives in place to ensure investors stay in the market. They don't want 2million homeless people. I think people and families will 'double up' so instead of teh luxury of living alone, they will take in a boarder or if the house is big enough, families will share. Actually I believe this is already happening.
If you are a long term investor, you expect the low times and have to see it out.
Well I haventbeen on this planet all that long either but I have spent a lot of time talking to those that have and believe me we are in for a shakey ride IMHO!! Dad was laughing the other day reminising how we are reading in the paprers now of a 'property shortage' and how it was the exact same thing he was reading back in the eighties. People can only support so much debt-and when the point is reached that they are no longer happy to bare it then they will sell….
Property shortgage…yeah right-there is hardley any land left to developin Australia huh…
2 bedroom apartments in Footscray for around $200k are a dime a dozen-still a very low socio economic area-though if you are happy to sit on it for a while would be o.k
Several tips for you. 1. The housing cycle in Sydney is at the bottom (I believe), so now is probably the worst time to sell, when in a years time, you may have a decent capital gain, if you wanted to sell then.
lol yeap things are only gunna get better from here…….inflation and increasing interest rates and the threat of a worldwide recession and garaunteed to boost up the prices…..
Starting to see more and more of these posts arent we guys!!! All it takes is a bit of nervous sentiment, a little bit of fear and the property market will crash!!! Its building and its coming, so be prepared to take advantage!!! A LOT of people out there who have jumped on the property bandwagon who will jump ship or be forced to sell soon, especially once they see that their property hasnt gone up 20% in value at the end of this year, I think there are a lot of people in for a wake up call. Im guna sit back and enjoy…
So, am i missing something here? How can this continue? I realise i'm not the first to think of this, so surely there is some simple answer out there.
lol just do like 70% of the arm chair experts out there-just ignore it and it will go away, after all property is a sure fire way to get rich and is guaranteed to double every 10 years you do realise dont you?
^^ Yes you are correct, it is in Altona North! My point was that it isn't in Williamstown as claimed. As for edgewater, had the pleasure of being there again today. Some dodgy ashphalting in that place. We had a stillage with some steel in it, a bit of weight but nothing too drastic… after we had emptied it we found that the legs of the stillage had sunk a good few inches into the asphalt. there was a few sizeable holes in the ashpalt, I mean it was 32 degrees, but still….
lol omg ashplelt that sinks when pressure it applied in extremly hot conditions-never heard of this happening before-I should really let all the manufactures that sell disks to put under motorcycle stands so that they dont sink into ashphalt know that they will actually be able to sell some now lol
Heath I couldnt really care less-I will be the one laughing to the bank in years to come, you seem to forget that it was probably short sighted people like yourself that used to bag Williamstown as a hole not all that long ago. Im here to make money, not to impress people with my postcode lol If you want to buy somewhere and pay at the top to impress your friends then good for you, I would rather buy in places that clearly have a ton of potential-Footscray is another area that people like you would look down there nose at, funny though becasue I have made $200k there in the last 14 months alone, I 'll drive my Ferrari down to Willi so I can feel cool
Blogs, did I read right, you think Edgewater is nicer than Williamstown? And to answer your question I was only as recently as two weeks ago working in the edgeater estate. A palm tree and some ashphalt next to a dirty brown river doesn't make a place a great place to live. It makes it less shitty than it could otherwise be, but that doesn't mean it's good. Anyway, I'm sure it'll make you some good money regardless so invest away.
You sure do have a complex-dirty brown river??? WTF just goes to show you havent even been there-I'll take some happy snaps for you and email or post them here if anyone knows how? ANd for the record I think Edgewater is nicer than Willy-that is of course unles you have as oft spot for the refinery and comission houses. Otherwise E/W is much better on the eye-has beautiful views of the city, beauty river, parks and running tracks…but of course you wouldnt know any of this because you probably didnt even get out of the car? Anyway Im happy becasue the way to make money is to go against the sheep…baaaaaa baaaa baaaa
I find it totally amusing that peopel can be so niave to think the business cycle will just keep going up and up-yet its these same people who also cry the loudest when things do take a turn for the worst and they are caught high and dry.
AT a BBQ yesty with a young couple (early 20's) who are lookign at spending over $500k on their first house-I tried to tell them that this amount was to high and we could be on the verge of a recession-but being the age they are and having only seen good times they had no problem in belittling me and basically telling me I was full of poop. Shoud l I feel sorry for these people when in 5 years time they cant afford repayments and have to sell at a loss?-no way Of course they wre telling me in 5 years their property will be worth $750-$800k so I guess I really am just stoooopid…lol
Anyway, if you've got 700k to spend I'd be heading to Williamstown or even some parts of Newport to have a look at what you can get. Much nicer than Marybrnong.
We are talking about Edgewater specifically, and compared to Williamstown I think it is much much nicer. You live in Williamstown thouhg dont you-they dont have any seaweed there?
When was the last time you took a drive through Edgewater, or a walk/run along the path on the river? SUre is nice around the race course and is also nice towards the Anglers…
They have only lived there 6 months and their house has been broken into twice. Does it mean anything? I dunno. That why I suggested to DO YOUR RESEARCH FIRST about the area, but you seem to take it a bit personally.
Research ya say? Anyone with a little intelligence and who has actually done some research would know that areas with nice house and therefore nive contents get robbed-I even went to the trouble of doing some 'research for you!! Gee shock horror the eastern suburbs show MORE break ins than the west in many cases….shock horror!!!
Postcode
Postname
Burglary rate per X households*
3066
Collingwood
12
3023
Deer Park/Caroline Springs
13
3065
Fitzroy
14
3019
Braybrook+North
16
3067
Abbotsford
17
3145
Malvern East/Darling/Caulfield E
19
3052
Parkville
19
3054
Carlton North
20
3012
Footscray West/Maidstone
20
3020
Sunshine+North+West/Albion
20
3011
Footscray
21
3002
East Melbourne
21
3053
Carlton South
21
3037
Delahey/Hillside
22
3068
Clifton Hill
22
3051
North Melbourne
23
3000
MelbourneCity
23
3204
Bentleigh/McKinnon/Ormond
24
3804
Narre Warren North+East
24
3809
Officer
24
3064
Craigieburn/Donnybrook/Kal Kallo
25
3121
Richmond/Burnley
25
3144
Malvern/Kooyong
26
3124
Camberwell/Hartwell
26
3122
Hawthorn/Glenferrie
26
3013
Yarraville
27
3003
West Melbourne
27
3021
St Albans+East+South/Kealba/Kings Park
27
3186
Brighton/Brighton Middle/North
27
3070
Northcote
27
3032
Ascot Vale/Maribyrnong
28
3030
Werribee+South/Derrimut
28
3182
St Kilda
29
3081
Heidelberg West/Heights
29
3185
Elsternwick/Gardenvale
29
3141
South Yarra
29
3142
Toorak
29
3188
Hampton
30
3101
Kew+North/Studley Park
30
3072
Preston+East
30
* Based on 2003/04 Victoria Police Crime Statistics and 2001 ABS Census data for number of occupied households. Suburbs with less than 500 occupied households have been excluded
OMG Toorak has got a higher break and enter rate than Maribyrnong-quick run for the hills!!!!! lol now where was I …..oh thats right go stick your head back in the sand sunshine
As suggested, I would do my research on the area first.. I have friends who rent there (near Highpoint) and have had their house broken into twice in the last 6 months…
You kiddin me? A house somewhere actually got broken into? Twice? Oh my god heaven forbid this ever happens in the east lol Just wait for the day you actually have crime in the eastern subburbs lol
Jokes asside of course there will be some crime-you have a lot of nice house with nice goodies-just like there is a lot of break ins in Glen Waverley etc due to people making the trip up from Mulgrave and Springvale…now go stick your head back in the sand sunshine:)
Just make sure that you do abit of research as suburbs on the west and north closer to the airport noise levels will never do as well as the properties on the east and south east!
michael
Lol you mention research-you obviously have done none!!! Have you ever even been there? As we all know as soon as you step a centimetre over the western border all of a sudden noise and pollution are amplified lol
Seriously what 'research' have you got showing aircraft noise at Edgewater? I am actually an ex commercial pilot and Edegwater isnt even under a approach path for Tulla, thus an overhead aircraft are just as close to there as they are to say…Toorak, plus at that distance they are normally around 5,000 feet-hardley a noise problem…ahh you do actually realise where Edgewater is do you? Soo funny…..
The place is a goldmine IMHO-where else within 7 k's of the CBD can you buy a 3-4 bedroom house on the water with parks, ovals, trees, running tracks and quiet and off the main roads for under $700k!!!! I would definately be buying there-I have and love it!!
I did make one comment early in this stupid thread and have since just sat back and read in amazement as the posts have just kept coming. Blogs, I think that you are suggesting therapy for the wrong people. I'm possibly on my own here, but I just can't believe the number of so called investors who seem to believe that everyone owes them a living so that they can go on to be self made millionaires. At anyone elses expense but their own – Just look at the posts that suggest Agents are overpaid and do a lousy job – Mortgage Brokers are ripping people off – Tradies charge too much – Lawyers and Conveyancers are too dear – Don't pay for advertising – It seems to me that people (read investors) need to learn economics before attempting to create IP's.
My 2c worth on this boring subject.
Jon
You are a clown Jon-for a topic that is soooo boring to you it seems you have read every post? lol if it is so boring and such a stupid thread how about you stop reading it then Einstien?
So we obviously need to learn economics huh, this is funny-so what gems of information can you impart on us poor uneducated fools Jon? I suppose you would quote supply and demand? Gee how years of economics did you do to gett hat one covered off? Just because someone charges to much doesnt mean we should be happy about it-how on earth you think what realestate agents charge is fair and resaonable is beyond me. The only reason people pay it is becasue they have very little choice, the sooner someone starts up an agency that charges realistic fees the better-and they will be overcome with business!!!
As for the arguments in this tthread I think its quite simple-people are complaing that when paying professional services fees they are not recieving professional services in return. Hell I would have been happy with paying my painter $3k for the week if it wasnt for the fact he had to come back half a dozen times to fix things that should have never needed me to ask for fixing in the first place…but what would I know-I need to learn economics first before I complain huh….bwahahahahahaah
There certainly does seem to be a re occuring theme of the tradies being very 'sensitive' and overly defenssive. On one side there is an argument about sub standard work being provided and people being ripped off, and yet the tradies who all reply seem to ignore this totally and reply in defense of their self worth and right to make a living and that they are not second class citizens etc-seems to be some deep seated issues there fellas……therapy anyone??
Bit of a tosser thing to say.
And why is that? Can you add anything other than calling me a tosser lol I think its very clear that the majority of tradies that have replied seem to have some sort of a complex
There certainly does seem to be a re occuring theme of the tradies being very 'sensitive' and overly defenssive. On one side there is an argument about sub standard work being provided and people being ripped off, and yet the tradies who all reply seem to ignore this totally and reply in defense of their self worth and right to make a living and that they are not second class citizens etc-seems to be some deep seated issues there fellas……therapy anyone??
I am encouraging my four boys to take up a trade. They are all average intelligence and I doubt any of them will want to spend four years churning out essays even if they achieved a high OP score. IQ has nothing to do with to do with general knowledge, sense of humour, positive outlooks,common sense, social skills,ambition or anything else that would encourage a happy and fulfilling life.
Good for you, and if I had kids I would do the same. Maybe you havent seen some of my other posts about my views on uni-put it this way, who is the sucker-the apprentice who gets PAID to learn and comes out at the end earning a stack of money, or the uni student who PAYS to learn to graduate and then try to find a job and earn peanuts for a few years. I think tradies are EXTREMLEY smart!!!!