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harb
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@harb
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August 1, 2008 - 3:01 pm
Scamp wrote:
Anyway, first thing any REAL prime minister does is cut the tax benefits on property investment as a whole.
Hahaha! Dream on Scamp, without the tax benefits a lot of investors would just kick the renters in the street or put up the rents 4 fold. The rent money alone is not worth the hassle of a tenant, I'd rather keep the place vacant for a few years/decades until I need the money. Due to increasing population property will appreciate in value more then cash in a bank.
Of course there is always the ultimate option, your REAL prime minister nationalizes all the land, factories & building companies and builds free homes for everyone and everyone gets to wear the same nice uniform. Hang on, didn't uncle Mao tried that already ?
You think 4% is rampant inflation ? Wait for RBA to start dropping the rates and see what inflation looks like when the AUD goes down to 70c.
harb
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@harb
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August 1, 2008 - 2:16 pm
Scamp wrote:
RBA will *NOT* lower the rates, how many times do you want me to tell you.
Just take the advice, and do something with it. It can be predicted, and it just was.
Just do the maths and you will know why they won't lower the rates.
So you are now qualified to give financial advice AND have mates over at RBA, right ? I think you've been hanging around the wrong forum for too long.
harb
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@harb
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August 1, 2008 - 2:09 pm
Scamp wrote:
Interest rates won't fall…
It's a hoax, just like all the spruiker stuff the real estate agents post.
You mean like your genius hoax ?
Scamp wrote:
My genius plan was to advertise houses for 30% under the price of an auctioned house, with public viewings the same date as the auction, and the same times too, just to make sure I'm the only one at the auction
Nothing a RE can come up with that I can't counter.
http://forum.globalhousepricecrash.com/index.php?showtopic=35049
.
That's what I call a good plan, Scamp. Now all you need is to find a house without a reserve price and you could end up buying it for $1.
harb
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@harb
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August 1, 2008 - 4:38 am
Scamp wrote:
http://www.news.com.au/business/money/story/0,25479,24105428-5013951,00.html
on news.com.au :
THE weakest market in four years has seen house prices drop in most capitals with predictions next year could see 10 per cent falls.
You forgot this part "Weak market blamed on high interest rates"
on news.com.au today :
"For starters, prepare for official interest rate cuts now. The Reserve Bank wants to cut next week. It will cut next month. "
http://www.news.com.au/business/money/story/0,25479,24111198-5016110,00.html
If the rates eventually come down, lets say 2% over the next year, do you think the rents will also come down by a similar $ amount ? Or do you think investors will return and if so what would that do to house prices ?
harb
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July 31, 2008 - 3:54 pm
Scamp wrote:
– Bank interest rates *will* go up. Whatever the RBA does ( they should really up the rates also, but it doesn't matter, even if they don't the banks will ). This makes money even more expensive.
– Recession is coming, Australia won't escape it. This is not the time to get yourself in debt.
Getting a bit desperate, are we ?
harb
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July 31, 2008 - 8:59 am
Sorry Anrobel, not up to date with central Mandurah market. If you're only looking for 400Kish I don't see much of a downside in holding, even with a R60 rezoning the price can only go up. Plus in the current market the only inquiries you'll probably get will be from "cash" buyers expecting to get it for half price.
harb
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July 30, 2008 - 12:11 pm
Anrobel wrote:
Can anyone tell me what is the usual cost of selling a vacant block.
I wouldn't give them more then 2% but around 2%-2.5% of selling price + GST seems to be the going rate in Mandurah. If its in a high traffic area plant a "For Sale" sign on it with your phone number and see how you go. Either Waterways or Falcon settlements should take care of the paperwork for less then 1K.
cheers
harb
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July 30, 2008 - 11:48 am
ItalianDragon wrote:
I would not blame too much the normal public when NOT EVEN the ANZ TOP MANAGERS could see the downturn coming as explained in this article by the ANZ Chief Mike Smith:
ANZ tips defaults to rise
So what are you saying, they couldn't see it before but now they bought themselves a crystal ball and can accurately predict the future?
harb
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July 26, 2008 - 9:38 am
Hmmm, lets see. … There is currently a lack of builders so first they will have to bring skilled migrants to build all these extra new homes. The workers will have to be housed somewhere so that will put increased pressure on the available rentals and cause the rents to go up by 50% or more. Building costs will also go up and so house prices will follow soon. Then in 2 years they'll rent the new houses at a 20% discount and collect the gov. reward while the gov. will congratulate themselves for coming up with such a great scheme. During the next election the gov. will ask us to vote for them because they are the ones who helped to lower the housing costs for struggling families. Did I miss anything else ?
Sounds like a great idea.
harb
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July 25, 2008 - 3:09 am
howardcm wrote:
Thinking a duplex in Kardinya at the moment or a house in coolbellup even though its pretty dodgy
Not as dodgy as it used to be, they've been moving undesirables to other areas for the last 6-7 years. Still got the stigma hence the lower land value.
harb
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July 24, 2008 - 3:20 am
howardcm wrote:
Why rent when I can buy a house paying the same amount?
Once I move out after 6 weeks ( 6 months ?) I will rent the house out and it will cover 85%+ of my mortgage
Now that's a nobrainer , Scamp.
harb
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July 23, 2008 - 1:21 pm
Scamp wrote:
why would you buy now ?
Rent, then when prices are lowest, buy.
It's really a nobrainer.
If the OP has the 350k to buy then now would be as good a time as any, why rent when you can buy ? In 6 months he could be renting the place to someone, maybe even you. There are plenty of houses to pick from in that range and not many buyers ready to sign on the dotted line just yet so its a buyer's market. The situation could reverse very quickly in the 350K range of the market once the FHO buyers are convinced the rates will not rise anymore. You probably are not aware of how quickly the lower end of the market can take off in Australia seeing how you lived in Netherlands until recently.
Scamp, what price range are you looking to buy in ?
harb
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July 20, 2008 - 8:02 am
potential FHO wrote:
Not a lot of support here for potential FHO, never mind.
/quote]
Plenty of support Sean, just not for GHPC trolls. Try Ss, you may have better luck there.
harb
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July 19, 2008 - 2:55 am
potential FHO wrote:
Property is a unique asset. Its main purpose is shelter.
G'day Sean, what about a container or two in the bush ? That could also be classified as shelter.
Quote:
Its secondary purpose is that it can generate income through rent.
Without the NG and good CG you'd currently need at least 15% return on your rental just to equal the returns you could get by parking your money in the bank.
harb
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July 13, 2008 - 11:25 am
I bought /sold 2 of them in WA, don't remember the rates when I bought/sold them but it did go 18% while I held them.
Old asbestos dump bought for 62k sold for 78k after 13 months and a paint job.
The other a brick & tile bought for 89k sold for 107k after 14 months, a paint job and garden cleanup.
Could not be bothered with tenants at the time plus the high rates so I sold them. In hindsight I should have got a PM kept both and maybe subdivided, even in today's slow market each would have easily sold for 600k+ to developers.
harb
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July 12, 2008 - 3:01 am
clubhonda wrote:
Now what amazes me is that I live near Wyndham village and I've never heard of it! (This friend learnt of the project in Singapore where it is being marketed). I'd like to hear what you guys who are the experts think as I'm relatively new to IP.
I've been going to a few open houses recently and there are quite a few interested people from Singapore and Hong Kong looking to buy here. Don't know if its because it looks cheap to them or is it because they are willing to take a punt and will not be put off by scaremongering idiots with secret agendas.
harb
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July 12, 2008 - 2:38 am
Scamp wrote:
I've been saying Iran war is unavoidable since February. By the way, fuel prices in holland are already 3$ per litre.
Wow, that's about $2 in tax. No wonder they can afford the level of health care and welfare they get over there.
harb
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July 11, 2008 - 7:26 am
ormeau wrote:
Environmentalists say a CSIRO report predicting the price of petrol could rise to $8 a litre in 10 years
Yes but what is the predicted average income ? I don't see that anywhere in the story.
harb
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July 10, 2008 - 10:12 am
You'd have to do a lot of searches to be worth the $186. I saw a couple of links somewhere on this site, streetsales.com.au and onthehouse.com.au I think they were. Wouldn't one of them do the trick instead?
cheers
harb
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July 10, 2008 - 2:47 am
Jon Chown wrote:
The average new house size today has more than doubled overthe last 20 years, consequently is would be fair to expect that average house prices have increased.
To add to what Jon said , not only has the house size doubled over the last 20 years but thanks to "GW" it needs to include a more expensive Solar HWS, mandatory insulation, grey water diversion systems, rain water tanks, etc. Land developers in the new estates are in a similar situation, they have to provide a certain % for parks and recreation area, better roads, broadband cable, Noise barriers and retaining walls in some cases,etc. All of the above cost money to buy and install so someone has to pay for it.