Scamp wrote:
Yes, this is what everyone who can afford to do that is doing. I believe none ( or very few ) of the people on this forum have actually tried to SELL a house instead of buy buy buy.

Why SELL it if you can RENT it ? Isn't that just like killing the golden goose ? My oldest IP cost me just over $40K for the H&L package and is…[Read more]

Scamp wrote:

harb wrote:
For that to happen we'd have to be in a property bubble which we aren't

Harb, you're still in the 'denial' phase my friend ? Most of your colleagues have already passed that phase and are now in the 'angry' phase.

And why would they be 'angry' ? Angry for interest rates falling ? Angry because the government who…[Read more]

Is that the same Bill Gates that predicted we'd never need more then 640k of RAM ?

ummester wrote:
During both recessions, house prices did decline.In the 80s, I remember my parent's peers putting of moving, upgrading, holidays, new cars and all sorts of things just to concentrate on the mortgages..

Maybe in your part of the woods, here in Perth prices went from mid 30s to high 90s during the 80s. Must have been different in…[Read more]

Scamp wrote:
Harb my dear, The problem is not convincing yourself that your properties are worth 10 million dollars each.The problem is trying to sell them and finding out that the only offer you get is 200.000.

Then refusing to sell them for less then 10 million dollars each would solve my problem.

Scamp wrote:
It's time for me to delete my account. I wish everyone on the forum good luck with whatever they want to do. All the info you need is there. I wish both the investors and the people who wait for better times ahead the very best of luck in their endeavors. I have a new project starting and I won't have time to spend on these forums…[Read more]

gmh454 wrote:
Still think all my points will fall into line, though I do see your angles, and they will have some impact, and on Perth been waiting since 2003, and it is very very soon.

I really do feel sorry for anyone waiting since 2003 and this would explain the hopes for a miraculous 50%-60% crash that some people have.  They've made the…[Read more]

wealth4life.com wrote:
Hi Hard,Yes this thread has been going since 2006 … because the bubble burst in 2005 at the peak.

When the bubble burst in Sydney, more of a slow leak actually, everything spilled nicely into the other capitals. What bubble burst ? Compare the Australian median prices on 2005 with 2008  or compare the capital cities f…[Read more]

Scamp wrote:
It's all a big scam, and it's all falling apart. And Harb, I feel sorry for you if you own property in Perth.

Thanks Scamp.

Quote:
C2, can you post your houses on this forum with your prices so we can take a look at them and see for ourselves ? See, I have trouble believing people when they say "my houses gone up 20%" while we're…[Read more]

Scamp wrote:

harb wrote:
Say it ain't so and prices have not doubled in the past 7 years.

Houseprices, under normal circumstances, double every 10 years. Noone said they don't.The explanation is simple : Inflation. Everything doubles / triples / quadruples every 10 years. My income in the last 10 years has quadrupled for instance. Did I do…[Read more]

blogs wrote:
We are on the cusp of a prolonged recession, if not depression, unemployment will be double current amounts by years end, property prices in Australia are about to get smashed and you are laughing because of the past bubble?

So you are predicting a prolonged recession and unemployment at 9%  ? I've seen better in early 80's. Proper…[Read more]

ummester wrote:

harb wrote:
Lets see, Brisbane median prices 7 years ago were around $200K  and now they are$400k+  ….Yes, looks like it is "garaunteed to double every 7 years"  Even adjusted for inflation you would be well ahead of just keeping your money in a bank.  

You are still the ultimate proptimist:) Brings a smile to my dia…[Read more]

ummester wrote:
Nah, Adelaide was the last big boom – will hurt equal to, if not harder than Perth by the time it is all done and dusted.

Believe it or not I've heard that a few times before and the only people hurting were the ones that didn't participate in the boom or the people who joined in the boom right at the peak and had to wait a few…[Read more]

gmh454 wrote:
I think you have to think big picture, not just IR.Things for 2009Unemployment up -whether it is 7.5 -8.5 or 4.5 to 5.5 it is still the upward movement not the actual % that is key. It is the changes that occur to that 1-3% that will loose jobs. Some will get employed quickly. For most that will be rare. In 1983 I beat the traps…[Read more]

ummester wrote:
All that said, there are still more coming on than what are going under offer, prices aren't going up and my deposit is ever increasing…

Talking of prices not going up, I came across a February 2006 report and was surprised by the increase in the median prices in most cities since then.  I was under the impression that Perth…[Read more]

blogs wrote:
The Sunshine Coast in Queensland was the least affordable area, ahead of the Gold Coast, ranked third, Sydney, in fifth place, and Melbourne in 12th place.

Since when are  Sunshine & Gold Coasts cities ? I was under the impression they were holiday destinations. What a surprise, canal homes on Gold Coast  and  apartments in Mo…[Read more]

ummester wrote:
Scamps posts drew me here and to the GHPC forums, everyone remembers that he was preaching the crash a year or 2 back.

Scamp was preaching the garbage he read on ghpc and they were preaching the same thing since before the last boom.Sooner or later they were due to get something right but even recent 2005 posts are laughable…[Read more]

Scamp wrote:
The property market will not go back up until at the very least 2010. This is a very optimistic already. Expect the housing market to bottom out around 2011-2021, depending how much the government is planning to mess with this crisis. The more messing , the longer it will take.

Won't go up until 2010 but will bottom in 2011-2012…[Read more]

Scamp wrote:
I was looking for my previous posts , only to find that they all got deleted.A shame, because there was some very interesting reading and warnings in there, also some nice replies from people. It was titled something like "Do not invest now, the property market is crashing" and was posted about a year ago.I wonder why an investment…[Read more]

Scamp wrote:
I guess the dropping dollar didn't magically add 30% to the profits of the mining companies after all , did they ?

No but it did cut down the labour costs by 30% and gave them 30% more returns in AUD which shielded them somewhat from the falling commodity prices.