ummester wrote:
Just in – But many older Australians with strong superannuation returns are also borrowing more and expanding their investments, helping to block younger borrowers from entering the property market. "Surprisingly, despite the marked distribution in wealth to the baby boomers, their collective appetite for leveraged finance…[Read more]

imugli wrote:
Hi Guys, Am after some opinions… I've just bought an IP that has a paved area to one side. It's a good size area and I was thinking it would be a good area to place a pergola over with some laserlite roofing. The place is in country western victoria, so the climate is fairly good, but said paved area is on the south side of the…[Read more]

pkrae wrote:
If I wanted to keep it for longer than 6 years would it then be worth moving back in for a period of time and re-setting the 6 years?

My interpretation from what I read on the ATO website is that unless you do that you'd get hit with CGT for the full period rented out . eg. the full 7 years.But just to be sure, get professional…[Read more]

ummester wrote:
Unless of course the person I buy from is selling something they brought before 2000, in which case they would still make a profit out of me.

That's a funny thing to say. Does it bother you that someone is making a profit out of you ?

Quote:
I might try and offer the owner some cash up front to further lower the price and…[Read more]

donkey33 wrote:
From reading the ATO website, I can claim the following:- Bank fees- Stam Duty (only on loan and not on land)- Loan Interest?- Other fees (soil test costs, plan costs, etc)?The loan interest I'm not sure on because this is only land at the moment and not income producing. This is an IP though so intent is there. The ATO website…[Read more]

ummester wrote:
Why are you botherring to debate with me so much anyway Harb?

No bother at all, interested in how a bear see things.

Quote:
Get to it – never know when age will fully catch up with you

Hopefully not before the official retirement age and unless the goalposts change I've still got 20 years to go before that happens.

Depending on whats under them I'd rip them out and either fix some new plaster boards over it or just patch the holes. Painting over the panels would probably make them look worst then they do now.

ummester wrote:
It goes in cycles and the greed cycle is ending is the western world. Human evolution needs cycles of both greed and understanding to evolve with stability. How glorious was being rich during the French revolution?

And just how glorious was being a peasant for the 40 years before that ? Not that it got much better after…. I…[Read more]

ummester wrote:
As in 'we would love to pass on the cuts' suckers… but we won't.Anyway, this whole debating tiny changes one way or another is fruitless and becoming boring. I believe that over the next 2 years the price of property will drop by around 30% across the board. You don't. Only way we are going to be sure who is wrong and who is…[Read more]

ummester wrote:
The one thing boomers parents forgot to teach them was not to be greedy, a lesson this whole country has to learn all over again…

Sorry to disagree with you on this but greed IS good. Without GREED human evolution would not have happened and we'd still be hanging from a tree branch. For confirmation of that just look at human…[Read more]

ummester wrote:
Immigration figures are curently overstated, irreguardless – as unemployment goes up immigration will go down. The real pressure will be on the government to convince investors of letting people without jobs into their rentals.

Are you suggesting a conspiracy here ? Its funny how when it comes to the immigration the figure are…[Read more]

Scamp wrote:
I have a new project starting and I won't have time to spend on these forums anymore.

You mean they finally caught up with you at work ? Good luck and all the best when you get here.cheers

ummester wrote:
No, your children have a problem. And if you have no childgren because you are too ugly or miserable to find some-one stupid enough to reproduce with you, then society inherrits your problem. Either way, that attitude is totally self serving.

worked well for our forefathers, why change it now ? This is exactly why most  X & Y…[Read more]

ummester wrote:
I know, it's the American system but the only difference between their banks and ours is that where they can only create debt that equals 9.99x the amount of holdings, Australian banks can create unlimitted debt.

And they can drop the keys to the bank manager and walk away. I guess that if I was a renter over there I would have…[Read more]

ummester wrote:
See how selfish your dreams are compared to mine? I want something for the country – you want something for yourself…

And how do you know I don't want to win so I can donate the lot to Red Cross ?

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Basically you are aware that property resources are finite and that BBs got to entre the market first. Pretend there are…[Read more]

ummester wrote:
I want the old Australia back where each working family could get pissed at a barbie in their own back yard.

And I want to Lotto every week but that doesn't mean its going to happen. Blame the BBs if that makes you feel better but who's fault is it that we have too many people squeezed in too little space ? The quarter acre…[Read more]

Scamp wrote:
I actually had a chuckle at this one.

The funny part is that once you get out of the CBD most of it is true, we've just got used to it and so will you if you're still here after the first 2-3 years. 

Scamp wrote:
Ofcourse the banks are competing for the fixed loans now, they need to do silly things.

and next month for variables…So what are you saying Scamp, RBA rate at 2% in 18 months ?

unmester wrote:
I still recon the only way the banks can make their debt back is by continuing to raise rates.

What debt ? At the current rates…[Read more]

ummester wrote:
Harp, watch them put the variable up nowhttp://www.news.com.au/business/money/story/0,25479,24147752-14327,00.htmlWe are seeing a knee jerk reaction from the ANZ. It is also a responce to the government shaking the finger this morining, as shown…[Read more]

crashy wrote:
of course they would cut the fixed rate, as the market has priced in a rate cut already. why wouldnt they want people to lock in at the top?

It was a smart move, I wonder how many ppl will fall for it and swap over to them.