Forum Replies Created
- ormeau wrote:Why is it people, you seem it necessary to debate the comings and goings of the Aus property market? If you deem yourself as intelligent as you portray on these boards with your testerone filled muses then surely you must realize with any logic that you may possess the realisation hat this is a duel one cannot win?
In 2 billion years the sun wont be able to provide the voltaic energy to sustain enough warmth for sustainment of life anyway. Get real you self centred bunch of meaning making racket playing robots.
Fools game.
[edited by admin for language]
Mate. You are holding on way too tight here. Best you start to ignore those voices in your head and find something constructive to do with your time because your comments are not welcome here.
The exit is that way….
Dont let the door smack you in the !## on the way out.PS. In two billion years just imagine what my property will be worth YEAH YEAH.Have a beer and chill out mate.
I still cant get my head around why he is even on this forum.Sharing info on the downside to investing is fine but to take it to the level he has is crazy. He is on the wrong forum.Like i have said before. If i dislike something i sure as hell dont spend my quality time deeply involved with it like is the case here. It makes no sense. Unless of coarse you have a vested interest in turning it around to line up more closely with your own views. I think that is exactely what we are seeing here
Property goes down ,property goes up, Property goes down again. Whatever . Long term people. Long term
I believe property will bounce back next year with gains of over 20% per year for the next 5 years. Rents will stay with the price rises with the above very sustainable as incomes starting in the mining sector flow through to the wider comunity. The usa is alsmost out of it problems and i suspect to see strong gains in ther housing in the coming months.The UK will closly follow.
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Only kidding. Just wanted to make a few people foam at the mouth waiting to tear me down
Well Mackar. You asked for restrained posts and they jumped on it like seagulls on a chip.One thing you can take from this is that when you mix facts past and present with peoples emotions. All you really get is predictions. And many of them a biased towards there own thinking be it positive or negative. I think nearlly all believe that there will be a slump to some degree over the next year or two. The only argument is to what extent. Best thing to do ( what im doing) is cash up with finances ready,watch what happens over the next few months. And if you find are bargain that stands up over the long term then go from there. There is always a million reasons not to buy property. This can be said for every slump we have had in the past. Nothing has changed. The smart people instead of living in fear ,are looking for there next deal that will shine in the future after the gloom has past.This is the challenge for newer investors
devo76 wrote:But we do have all the ingredients for one.Low supply
Wrong. 900.000 empty houses on the market. That doesn't even include the amount of land for sale.
devo76 wrote:high demandWrong again. Poms ( the biggest migrators ) can't sell their houses, they will stay in UK. The upcoming recession will also take demand away. More and more people will migrate AWAY from Australia as they can't make a living and can't pay for the houses. There are more houses being built than houses needed for immigration. Immigration is at 200.000, that means you need 80.000 houses per year. More are built every year than that, EVEN NOW when everything miraculously 'thinks' that there are no houses being built at all. Wakie wakie !
devo76 wrote:rising rentsWrong again. Rents are DROPPING. Like I have said many times before.
devo76 wrote:Possible rate cuts soon.Wrong again.
Wow you have such definative answers. I must know where you buy your crystal ball from. Mine is not as reliable as yours.
My area has been flat since the 2001 boom but rents are rising FACT. Understand?. This can be said for most of nsw. I dont care where you get your info from. This is what people who rent in my area tell me.Work mates,friends,family. Plus my rent has gone up. Where the hell are they dropping. And dont give me a small % drop stuck between months of rent rises.I want a solid trend.
I will leave the rest of your post alone as im sure you will come back with some more facts from your side of the world.My point being yes things will get rough. But there are things in play here in Australia that will soften the blow. Not shield all together but atleast protect us from a worse case cenario.
I agree. No way will there be a boom over the next few years. But we do have all the ingredients for one. Low supply,high demand,rising rents,Possible rate cuts soon. But i dont think these are enough to combat the high house prices and personal debt we have in Australia. What i do believe they will do is soften the down turn so hopefully we will see a weaker slump than in the US and UK. So i am expecting a slow down with value slumps in most areas. But not a complete 40% crash as some predict.
Well they sure as s##t didnt go up either.
ormeau wrote:devo76 wrote:I think someone was not loved enough as a child. Or dropped on there head at a early age.If you believe that vomit why on earth are on this web site. Go hug a tree. Kiss a fish, bid farewell to loved ones. Seems to me you are wasting your last precious moments on this earth.Just some thoughts.
As each superpower died in the past a new one was born right?. Australias turn at the top people YEAH YEAH.We have our own resources that the world want and need.Large areas of stable land,large gas deposites etc etc. We are looking quite goodAnother thought.
From the power of the sun. Fire was discovered
From fire we found use of metals.
From this we harneseed the power of oil.
So it appears to me that our next power source will be found using all three. Seems logical. Why would this process suddenly change.Chill out dude. Have a beer. relaxe,breath and live your life dont fear it.
Perhaps I may have been dropped, but not drop kicked like you, your reply to a post shows your true grit. Grow up ankle.
Wow hitting a nerve hey. You clearly have no interest to help or educate on here. You just want to scare and pannick people. Your true colours are now showing. Find another forum please.
It seems the growth of countries or cultures in the past and present are similar to most living things.Take a tree in a forest for example. They start small and struggle for survival stuck in the dark under their neighbours. Then as one of the mighty trees above fall. They are given a chance to grow. Eventually with a little luck they flourish and become large and powerful. But all things must come to a end and the tree grows old and dies allowing the next to begin its ascent. This can be said for many cultures in the past. I still believe the US to have many years at the top yet. Australia i believe has more positives out of this scenario than negatives. We are still a young nation with solid morals and we suffer little of what many other nations are struggling with. WAR,FAMINE,DESEASE,UNREST,NATURAL DISASTERSLACK OF LAND. We are geographically in a stable area with plenty of land to move.Our people are generally kind and happy. I believe Australias prime years are still ahead of it.
This may sound a bit wet but im sure you get the point.
I think someone was not loved enough as a child. Or dropped on there head at a early age.If you believe that vomit why on earth are on this web site. Go hug a tree. Kiss a fish, bid farewell to loved ones. Seems to me you are wasting your last precious moments on this earth.
Just some thoughts.
As each superpower died in the past a new one was born right?. Australias turn at the top people YEAH YEAH.We have our own resources that the world want and need.Large areas of stable land,large gas deposites etc etc. We are looking quite goodAnother thought.
From the power of the sun. Fire was discovered
From fire we found use of metals.
From this we harneseed the power of oil.
So it appears to me that our next power source will be found using all three. Seems logical. Why would this process suddenly change.Chill out dude. Have a beer. relaxe,breath and live your life dont fear it.
I think most people agree that the growth many have enjoyed will not continue. Now its about building buffers ,sitting tight and if you are in the position to buy and want to. Then bargain hard.Many points argued at the moment are neither here nor there. Yes things will slow or go backwards. But if you are prepared then who cares. its about Long term people. Yes i genuinely feel for people who borrowed heavily at the peak. Sure maybe they shouldnt have but not all Australians are investing masters. They just wanted a roof over there head and timing was against them. There will be losers over the next year or so but there will also be winners.Try and be the later.
I will have to tell all the people in my local area looking for good accomodation that its all in there head. Im sure they will have some choice words to say back
1 property. Ask me again in a year.
I just think its that time in the cycle. D & G posters are loving it because thing have swung to there corner. Let them have there moment in the sun. Yes rough times are ahead but long term i believe nothing will change. Buy well at a good price and hold on. You should be ok. And in the next cycle we can cover this same topic again,and again,and again.
PS. Yes i believe property can/will go down. I dont know many people on these forums that think otherwise. But where will prices be in 10 to 20 years. Thats all i care about.
Paul22M wrote:Devo76 may I ask how "Italian Dragon" is not here to help? Just because he is not here trying to talk up the market or tell people to buy dosnt mean he's not here to help, if anything he's is making people more aware of what is going on in the market such in this case as all the bank repossessions going on at the moment due to morgage stress which does affect the market. It annoys me when property investers and real estate agents come on here and just try 'talk up' the market and how prices are going to keep booming etc. then when someone comes on here and looks at things from a different angle they get told to go away. I think anyone that is going to buy property at the moment do your OWN research and dont listen to bias opinons from people who have an invested interest in the market continuing to boom.Fair enough. i just question the motive behind such short 1 liner post or links. Im all for information from both sides. I am now a lot more aware of the down sides to investing thanks to this. But in the end this is a INVESTORS forum with the majority deciding to use it to increase their wealth or knowlage. Sometimes i feel the comments are just purely a attempt to put a downer on investing. Not to give a friendly warning. If you are a genuine person looking to share his knowlage and research then' italian dragon" i am grateful.
But in the end i dont go on the tour de france web sites and tell them to buy a car do i ?
ItalianDragon wrote:Enjoy:
AUSTRALIA'S economy is looking even more fragile amid reports that some mortgage lenders are repossessing homes for defaults of as little as $1000.
http://www.news.com.au/couriermail/story/0,23739,24078036-952,00.html
.
I really dont know why you post on here. Your point is taken. We know how you feel about the market here in australia.You are not here to help in any way. Let go.
potential FHO wrote:Not a lot of support here for potential FHO, never mind.
I am reminded of a phrase a very friendly and intelligent person once said as we walked through a somewhat seedy part of town: “we are doing the work of karmic minesweepers”.
It is probably hard or even impossible to imagine that someone who is intent on seeing negative gearing (NG) abolished has investor’s best interests at heart. But this is the case.
For those readers who have just chanced on this forum and are interested in clear insights into the Aus housing debacle and NG try:http://www.prosper.org.au/2008/05/19/unprintable-remarks-on-the-budget-gavin-putland/
For some home truths about RE from an honest agent, The Tough Truth:
2003 RBA First Home Ownership report:
To paraphrase key finding of RBA: The main reason for housing unaffordability in Australia is negative gearing. (Point 22 Executive Summary of report)
2008 Senate report Housing Affordability:http://www.aph.gov.au/Senate/committee/hsaf_ctte/report/b02.htm
Senate recommendations included:
4.2 – Tax System Review Panel consider implications for housing affordability and overall fairness of the tax system:
a) tax discount for capital gains on investor housing.
b) exemption from land taxation of owner-occupied housing.
c) current negative gearing provisions.
Now, as property investor you are obviously intelligent enough to make your way in the world. I understand that your wish is to provide a better future for you and your family. No problem. However, if ones providence is based on the impoverishment of another that is a different story.
Investors now make up about 20% of tax payers but unfortunately, some are not paying any tax at all. All because of a rort called NG:http://www.theage.com.au/news/national/landlords-tax-bonanza/2008/03/18/1205602384109.html
NG is like sugar coated poison or a floating mine in the harbor of peaceful co-existence. It is dividing society into 2 groups – investors and renters. And if you think a society can function under that limitation, good luck.
Some of you may even soon come to the realization that you should request the government of the day to drop NG. Who knows?
Bigger picture of housing affordability is not going to be solved until tax discrimination, NG, is removed.
Enjoy the day and happy thoughts.Now let me see.
1# Low post count
2# Seems to be against Investing yet on a investing forum
3# Plenty of statistics and links to support there downward look on investing.hmmmm. I smell a rat.
But if you are a genuine poster wanting to buy a house. Then all i can say is for me personally. The small tax advantages i get do not sway my decisions and they hardly make investors rich. As stated the returns actually come from a greater loss. And if the government was willing to take over the housing of its people( Thats your tax money they would use). Then maybe abolishing it would make sense.I strongly believe that it has not affected house prices as much as you would believe. But we know what would happen if they removed it.
I wonder if a few years down the track with his first house purchased and nearly paid of. Will he look at inesting differently. Most investors after all are not greedy rich people. They are mum and dads just trying to provide a nest egg for retiremnt so the dont have to rely on a government pension. This is why there is insentives from the government. They want you to provide for yourself .
Yossarian wrote:Hindsight is always interesting.One wonders what advice Kaus would have received on this forum in 2003 if he/she had asked the question then?
I suspect someone asking whether they should take a punt on a 100% loan for their first IP with a negative ROI on purchase would have got a bunch of "you go girl/boy!", "you're on your way!" high fiving rather than any balanced explanation of the risks involved.
It is stories like Klaus' that highlight the need for newbies to look beyond the purely woo-woo, evangelical view of property investing and understand that that (a) it is an investment and all investments have downside risk and (b) you're becoming a landlord, not the landed gentry.
Good point. I bought my first IP before i found this and other forums. Although my IP ticked a few boxes and will be OK long term. I believe i could have done better. But i guess another way to look at it is if i didnt buy a IP. I probably never would have started looking at these forums anyway. So i guess you can use your first purchase as a learning expieriance. Many do.
