If you have a signed contract you are locked in unless he becomes in breach. I would read your contract well, and ensure that it covers all you were verbally promised. If it does not, any chance you may have to do something about it would be now. Not sure what you can do, but I would check now.As to stepping away because of his past background, I…[Read more]

Last night on the ABC news channel one of the speakers, did not catch the name but senior in the RE industry, said and among the many reasons for the slump, buyers market, etc etc etc, is there is no property shortage, actually the reverse with many more sellors than buyers and lots of  "off the plan "  stuff coming on…and why do all the "go p…[Read more]

Dan42 wrote:
Here are a few differences, off the top of my head.1) The Australian economy is relatively strong, we have low unemployment, and a budget that will be in surplus (apparently) in 2013. The US economy is a basket case, unemployment is over 10% and they are TRILLIONS in debt. 2) It's interesting that the areas mentioned in the link…[Read more]

Back 20 plus years ago when a huge amount of Oz property was funded by local borrowings it was easier to bring it down like that. but if we are borrowing most of what goes into the mortagage market from overseas then how do we reset our rates below what countries like Ireland and Greece are borrowinng..If demand drives up the cost of money the…[Read more]

ummester wrote:
. Many of the people I have it with get very sensative and upset about claims that their house may not be worth as much as they think its is though..

A couple of years ago a family member was mentioning their  place was worth 800K, followed by the usual, "will sell up some day, sell the IP and retire up the coast."fast forward…[Read more]

ummester wrote:

gmh454 wrote:
I commented a few months ago at how many boomers who are about to retire are sitting on neg properties. (met predictable replies) . Talked about this with other accountants, and we are now seeing them sell, and talk about unloading, they cannot sit any longer. They certainly are not buying.

They have to sell…[Read more]

Couple of other points -I commented a few months ago at how many boomers who are about to retire are sitting on neg properties. (met predictable replies) . Talked about this with other accountants, and we are now seeing them sell, and talk about unloading, they cannot sit any longer. They certainly are not buying.China when their bubble goes, may…[Read more]

pmack wrote:
Urging first home buyers to buy with government grants and low rates and then 12 months later, instigate a reversal which puts them in an even worse position is absolutely criminal and these are the people lest able to absorb rising costs, let alone the current rate rise taking affect in January.

they did their job, they stimulated…[Read more]

Well there is only ever one answer for this….property next year will go up  …. 15%.why so..well with so many in arrears some will be forced out of their  homes and they will have to rent …this will put rental pressure back on the housing market …increased demand …so property will clearly go up …15%  (it's always 15%) just need to pu…[Read more]

jontapp wrote:
Yes Sydney peaked in April 2004 at $530,000 and the last peak was March 2010 at $590,000. An increase of $60,000 over 6 years. What can that tell you about affordability??

umm  ….. that next year it must jump $470,000 to $1,060,000  …..  well it's seven years, is it not.. must be the time to buy…wonder what the rent on $1,0…[Read more]

can you guys point out the quote where I said they bought OVER ten years ago. I said IN THE LAST TEN years..AGAIN  last ten years…think about it ..maybe the light will go on…somehow doubt it

Harb, I give up, I talk apples and you quote me as oranges….I try to get back to apples and you turn them into grapefruits.

harb wrote:
,is funny is that you gave it as an example when you were trying to make the point that anyone who bought in the past 10 years is bleeding.  How much would that house be worth these days, if he spent 500k on improvements I'm guessing at least  $2M ?  Its a shame that someone as naive as this person didn't get some advice from you or…[Read more]

harb wrote:

gmh454 wrote:
The thing I am seeing this year, is that for those (most of them) who bought a property in the last 10 years, they are all bleeding. Now I know that is because they are not clever little cashflow + types, I guess they went to the wrong seminar, – the neg gearing one.

You sure its 10 years ? Even Sydney and Melbourne…[Read more]

Interesting to catch up, I have been sitting out waiting for all the government intervention to wash through..I am an accountant as some may remember. I don't do many individuals as we are mainly a business practice. However most of the individuals are a similar age to me, I'm 56. Some a little older some a little younger.The thing I am seeing…[Read more]

Apparently the "Henry report" is recommending a "second home owner grant" starting with this years may budget, and there is rumour of possibly a third home owner grant somewhere in the pipeline…….sorry if this has already been posted,

I was wondering on this again this morning. We have had zero population growth in the age group that matters (Costello's kiddies don't factor yet), massive building in the last ten years, whole new suburbs have sprung up, massive medium density, continually going since around 1998,  and all fueled by immigration, which very seldom factors in the…[Read more]

Very interesting to read that from last year, gives me a warm fuzzy feeling…ABC just ran a piece in Sydney on the downward pressure on rents in the mid to upper end…always thought the "rental house so rare you had to sell a kidney to get one," was REI BS, will be interesting to see how long before it filters down..also saw Perth is starting to…[Read more]

wealthyjvd wrote:
every single recession we have had, property prices have come out strong each time, why is this any different.,sorry, we will experience some drops, but not of 40+% pfft. ridiculous analysis.

first recession for you, is it ??????? 

I think he might be more interested in selling…..that is if he owned there…of course which he dosn't …..