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$19.95
Well seeing as Mr Keen clearly does not have a clue what he is talking about, could you please explain to all of us why our decade long Housing boom which is bigger then the boom in the US will not burst just like the american housing market has ?
Could you also explain how this "bubble" is different to allllllll the other bubbles in history, including non property related bubbles whether it be the roaring 20's bubble, The tech bubble, Our currency bubble or our recently burst share market bubble
Could you also please inform us all when house prices will double again, from $350,000 to $700,000 2009 ? 2010 ?
Could you also explain how everyone will afford these prices, Considering the majority of people cannot afford our current property prices ? Maybe the world bank will slip us all some free carbon credits to sell on the black market for some extra dosh?
bardon wrote:GW is a tax scam and the established system is talking it up becausu thats what they do. The problem is that in the short term the system might win and insurance etc will become an issue. I am more concerned about species destruction and pollution with harmful substances than Co2 levels which plants eat.. All of sudden Co2 is a bad thing which it aint what about all the toxic substances no one talks about them naymore. While I am ranting take AL Gore he was the guy that signed off on the use of deplelted uranium arnaments in the former Yugoslavia and he later went on to win a Nobel Peace Price FFS.
Rising water levels if it does happen will not be related to mand made Co2 emissions it will be for some other larger natural cycle that we cant predict because we aint been here long enough to. As Harb says best you can do with GW is use it as a negotiating point for waterfront.
Yes sir, You are absolutely right ! Instead of Chancellor Rudd focusing on Lies about how the life giving element C02 is the evil of the world and how humans are bad why doesn't he talk about all the real issues that are kept away from mainstream media like how his little elite group put Mercury in the Flu Shots and other vaccines and hide it as "thermiserol" Contaminate our water supply and even our toothpaste with Sodium Fluoride which greatly decreases our IQ, gives us brain damage and literally kills us. contaminate our food with genetical engineered coding that triggers the cancer virus and many other degenerative diseases, Censors our internet so that only sites with the Emperor Rudd approval stamp are allowed to be viewed by his subjects, We would'nt want anything allowed to be viewed that tells evil lies about our Emperor now would we ? http://www.news.com.au/technology/story/0,25642,24569656-5014239,00.html
Or maybe seing as this is a investing site we should be talking about future U.N, Bilderburg, IMF and world government plans to completley illigalise private ownership of property like it used to be in communist china ? Maybe we should be talking about Offical statments of the U.N that say world population needs to be lowered by 80% ? Or how about Rudd trying to rush through our joining of the Asian union where all australian laws will be decided by a non ellected centralised round table of private elites ?
Don't worry people, Im only joking, None of the above exists, because sandra sally didn't tell you that it does.
0o0o Australian Idol is on, Gotta go ! Pizza and Marshmellow Ice cream time ! yay
Ok, well this whole global warming crap was made up to push for world tax… Opps I ment to say carbon tax so that the world bank can issue Carbon Credits to everyone on the earth, (That you have to pay for)
The fact is that the world has never been stable, Always forever changing, And infact like it has been mentioned in a post above, We are heading into a state of global cooling, Actually I read a report that said scientists in hawaii have seen sea levels lower this year
I'm sure the government will come up with some sort of theory that says Global Cooling is caused by Global Warming and Global Cooling is proof that Global Warming exists because the evil Co2 is purposely making the earth cooler now to trick everyone into believing that the earth is getting colder when really Co2's plan is to use reverse psychology so it can implement its evil plan of global warmingBut if it really came to it that sea levels rised 1m, I guess you would have to get a permit from United Nations whether you would be allowed to build a retaining wall within your own property or not. I would doubt it though, Because they will probably tell you that your illegaly blocking the parth of world government owned sea water Lmfao
I guess houses will have to be built like they are in Denmark where all the houses float when the tide comes in and go back down when the tide goes out again.
Cheaper ? Cheaper for who ? It is certainly not cheaper for the Australian people in the long run.
We are lead to believe that if the Australian public are not buying a new plasma every 2 years and a new car every 5 then our economy won't do well, Australia is a consumer economy and we are unfortunately, I hope im wrong, And I will be the first to admit that I am, But we will probably have to go through some type of depression because our economy is in a terrible state.
We are consuming that much and producing so little, that our Trade deficit for 2007 was almost 20 billion dollars, I would hate to see what it will be for 2008 and 2009, 2/3 of our exports are natural resources, Which have tanked and global demand will greatly decrease because of this economic crisis, we will see many mines will go bust.
We have had the biggest housing bubble in the world, Even greater then that of America, So we will see our own mortgage crisis over the next few years, We are already seeing the crack in the ice now.
Because we are a consumer based economy we will see absolutely huge spikes in unemployment as people start loosing there cushy 100K office jobs, Telemarketers are not needed anymore and mortgage brokers can't make a killing from the housing boom anymore.
As with all great western countries who's 99% of population lives in huge urban city's, Food is not something that is produced locally but imported from places where people work for $300 a year, while at the same time growing all our food so we can be fat porky pigs while they are undernourished eating a cup of rice a day.
Once 3/4 of the world finally comes to realise that us big fat lazy porky pigs aren't really that important to there survival and its apparent that the currency's where these big fat porky pigs live are almost worthless (Australian dollar barley hanging onto 60c) then the cost of food will be exponential, Actually the food imports might stop altogether if this economic crisis continues to escalate, More then one country have openly said they will stop all food exports, Russia and Cuba to name a few.
But that would cause a serious problem, how will we be able to stuff our face to obilivion with pizza and ice cream pie when australian idol is on ?
The value of your gold can't disappear over night, Gold can't go into receivership caused by an economic downturn or bad company management by CEO's that cost 100 mil a year.
I'm not saying anything bad about property, I never have, All im saying is that property is far overpriced right now so any idot who try's to tell you prices will increase next year or "The mother of all booms" is comming is telling you a bunch of BS
There is an oversupply of housing in Australia, by probably 1 million units or more, Yet we are all lied to and told there is a shortage, That compiled with the complete autistic notion of the speculation of property doubling every few years has caused this unprecedented and unrealistic increase in property prices to reach such a level that people will not be able to continue to hold up the levels of debt that we are.
All the people in this forum can deny it until the cows come home, Because they couldn't even conceive the fact that one of there investment properties could be worth less then what they paid for it, This would be beyond there benevolent wisdom.
Now I predict that property prices will follow the same trend as they did in america, Our property bubble was much bigger then theirs and thats not my opinion, Its a fact.
So how could you even consider purchasing property now when you know you will probably get the same house for a 50% discount in a few years time ?
Yes I think Bullion Coins or Bars are best, It dosen't really matter whether they are coins or bars, As long as they are pure, In some cases coins can be worth more because of there artifact/sentimental properties
There are a few gold dealers around the country, You need to register with them and provide them documents of identification ect, It is required by law that the gold dealers get your information so they can report you to the government.
Any gold purchase is recorded and kept by the government
Yes you have to pay tax
if you sell someone for more then you bought it for you have to pay tax on it.Now is a great time to get into gold/silver as there is currently a short period of deflation acting on the markets.
Be prepared for $20 000 ounce gold in a few years.
This is one gold dealer: http://www.ainsliebullion.com.au
Actually wise words in the post above, I have had many people say how can you judge whats going to happen in the future by the past, Well I say to those people, Obviouslly you have not studied history enough or you would not be saying that.
True we have many resources within australia, But like I said in a previous post, china is opening a new mine every second day, Also mining cannot support our whole ecconomy.
Australia unlike back in the day produces very little in terms of factory output or agriculture products, Australia has lead in the same path as the americans turning into a service, tourism and consumer ecconomy, This will end up as many people will eventually find out be devastating.
The country's who own and run the factories and the farms will be the best of, And as time will show they will emerge to become the words most powerfull economy's
If Australia is going to be a leading nation in the future we need to give way to our current ways and turn back to the old day's when we where more self sufficient. We need to be a exporting country, Not an importing country.
Australia needs to run its own factories again and more people need to become farmers again to vastly increase our agricultural strength.
Like ummester said in the post above, Its time to be in the most secure job you can get, No matter if its low paying or not, Because if your only interested in the high flying jobs you may be alright today but next year you will be unemployed. Personally I think manual jobs will be more secure as manual jobs always need to be done, Yet we won't need as many waitress in the future as less people will be going out to dinner ect.
I hope that some people can see the light and don't continue to believe that the way things are now cannot continue to be forever.
Oh I forgot to mention about the offset account, I don't know what's so smart about them when the interest you pay is only decreased by a pecentage point or so when you could make 10+% compounded on that same money a year
Have you looked into dumping your cash into shares that are currently paying 30%+ dividends a year ? I think Oil and Food company's are the way to go, they are the two most important aspects of the world ecconomy
Also you could look into holding onto precious metals for a few years, The current deflation we are seeing is creating fantastic opportunitys to make an absolute killing in this area.
I think there are so many different oportunitys out there at the moment, I don't see why the fuss with property at the moment, Let property crash before jumping into the market
Remember, to be succesfull you need to learn to do the opposite. buy when everyone is selling and sell when everyone is buying.
Wow, That is a very high leveraged loan your going to undertake, 50% of your income will be towards repayments, Im supprised the bank will lend you the money.
From what I know the banks work on around a maximum of 37% of income
Personally I totally disagree with the negative gearing philosophy, I would rather spend money on something that will make positive returns.
The whole negative gearing idea is based apon ever increasing property prices (booms) or speculation within the market that returns can be made by cashing in on the supposed future capital appreciation.
Your basically playing a betting game where your counting on the fact that you will be able to service the debt long enough to see the increased prices and eventually cash in on them.
Call me old fashioned but I would rather make money now and continually reinvest it to increase my profits then placing a bet on making money in the future with the risk of loosing the stake.
Bardon, As you are a knight's templar and have connections with the new world order, Do you try and put hidden satanic messages within the engineering works you carry out like alot of other engineers/architects ?
Also sir do you agree with your affiliates doctrine of population reduction by 80% ?
I would also like you to deliver a message for me next time your at one of your Knights Templar meetings. Tell them that there plan will never work, And tell them that one day all nwo scum will be charged with treason
Basically this thing is like musical chairs, Every time the music stops someone gets out.
Every time someone gets out, The company is bailed or sold out, Usually by a bigger financial institution, This leads to continued bank consolidation, this is not something that benefits the public as the less banks, The less competition the worse the deals will become for the customer.
I still just can't believe Not one minister in the Australian government is talking about solutions to this problem instead of adrenaline shots (liquidity) into the market which in the short term will boost the BS factor of the market but does nothing to address the underlining problem, Actually it makes the problem worse in the long run by Turning the leverage handle even further, allowing banks to issue more false money, more debt that is back against "AAA" mortgage securitys which are being deflated on.
So every boost of liquidity will:
1. Increase the overall money supply.
2. Increase inflation which is a result of increasing the money supply
3. Devalue the Australian dollar caused by higher inflation, Which in turn increases the cost of imports which is food, Which results in a higher cost of living added on top of the already devaluing dollar from Inflation.
4. Risk is greatly increased by FURTHER increasing leverage within the market creating even more volatility
5. Pathetic interest rates which are far lower then the rate of CPI disourage people from saving or holding money within financial institutions, Contrary to popular belief you don't need people to spend 110% of what they earn to have a strong ecconomy, Actually I would argue that if everyone had savings our ecconomy would be stronger for it.Our government is preaching to us how strong our banking system is compared to other countries, But the fact is that by them taking the exact same steps used by the American's, English and Germans to try and bodge up the ecconomy we are in fact heading towards a land of much Doom and Gloom.
Please I encourage everyone to pick up there phone and talk to there local rep and try and talk some sense into them, Ask the questions that won't get asked on TV, Ask them why is the RBA private, Tell them why arn't you introducing steps to unwind our current leverage and stop company's from commiting fraud, Tell them you don't want tax payers money bailing out these crook banksters when big company's start to fall.
Wow are you serious ? Can you provide any links for that ?
If you want to make money NOW then I think the sharemarket is the way to go, The sharemarket will have many zig zags on its way down to the bottom and if your interested in trading options then all you need is a little foresight into the market to make some very profitable gains, Although lots of puts have been banned in the sharemarkets by our loving government
Another thing to note is that if your interested in the stock market you may want to look into the purchase of shares thats yield is over 100% now, I've seen certain shares with almost 200% yield.
Commodities will continue to fall even further as we will see deflation before a hyper inflationary market, Crude Oil will go to about $50 a barrel before eventually skyrocketing to 150-200+, So once it hits that $50 it is a good time to hop on, you will see huge gains from then on.
I still think gold and silver are hugely undervalued, If gold was distributed equally between everyone on earth, then there would only be one ounce for each person. Also there is a lot of catching up for gold and silver to do considering compounded inflation for the past 30 years.
I forget the exact number but I read a report that said china was creating a new mine every second day, those numbers are huge, this will eventually have even more impact on Australian mining export profits.
As for property, All the millionaires I know are sitting tight. I think potential investors should be patient and sit the wave out and see what happens over the next several months and throughout 2009.
One thing I must say, And im not trying to gloat, But your the one starting the accusations, I have much more property then you will ever have in your life, So please stop the false attacks.
Sir, How can you call mainstream news a conspiracy theory ? I am not asking anyone to live in fear, Not to make money or run for the hills, I have never said any of that, You are twisting what I say for your own ignorant agenda
Actually the truth is that multiple times I have told people not to listen or trust what I say, But to do there own research instead of "Having some faith" and believing the storys from the land of milk and honey about false things like property doubling every couple years or listening to people when they tell you to pour endless amouts of money into a so called "investment" property that does the opposite to the words definition because the big boom that will come next year will save them from the pit of debt.
Then when someone who does the thousand of hours of research into the market and the ecconomy says something thats opposite to your own personal belief system based on limited information you attack them by calling them conspiracy theorists or doom and gloomers, Most of my posts are filled with factual information and I usually try and provide links to mainstream media to support my facts.
There is 6.5 billion people on this plannet and there is much more to learn then just what has been force feed to you through the 8 hours of TV you have watched since you where a baby in dirty nappies from privately owned media corporations.
People laughed when I said the stock market would crash
People laughed when I said the dollar would collapse
People are laughing now when I say property will collapseYour that misinformed you would probably say its a conspiracy theory if I told you the queen of england was the head of the australian armed forces.
wian wrote:it amazes me the scare tactics the media and others go on about, painting all this doom and gloom rubbish. the fact is , no one knows whats going to happen. and i would think that once it all settles down, i am sure the prices will correct themselves a bit, but they wont crash. If anything, people will pulltheir money out of shares and put it back into property,cheers
wian
How can you say that no one knows what is going to happen, when this whole ecconomic collapse situation is planned and the fate of the markets and important global issues are decided at meetings like the bilderberg group ?
There is proof of meetings and classified documents from years ago that state how the sub prime mortgages and the stock market was going to be imploded, to push for global monetary power consolidation and bailouts.
Its also stated that oil will go down to $50 to cause ecconomic destruction within the middle east, The dollar is going to be totally collapsed so that foregin dollar reserves are usless and the currency will be replaced by the amero.
How can you ignore all these facts and ignorantly say that no one knows what is going on, or what will happen. I think you need to stop watching Australian Idol and do some serious research into History and non mainstream media and current events to get a proper perspective as to what is really going on.
I don't mean to be rude but there is much knowledge to be learnt before you can grasp this ecconomic problem
Don't buy now, You can get the new government grant untill the end of the financial year, Wait untill property prices have fallen a lot more, Remember Buy Low, Sell High. Most people on this forum will try and convince you somehow that you should buy high.
If your still bullish and don't really care I would reccomend you at least wait untill the RBA lowers interest rates a few more percentage points.
The best way to set your business up is through a company, a company pays a flat rate of 30% tax. The three of you can then have each a 33% sharehold in the company, You will need to look into drawing up an agreement between yourselfs, You will need to talk to a lawyer about that, Along with setting up a company.
I will suggest one piece of advice, I have seen in many instances personally and through experiences through family, We've even owned mortgages against partners in business and it ends the same way 90% of the time, And that is failure.
It seems especially true when the parters are friends or family, Be very wary of what your getting yourself into, Each one of you will want to head in the direction of your own ideal, Expect many disagreements and even arguments.
Goodluck.
What you need to do is look at the trend, And the trend for property right now is down, And I wouldn't expect that to change much for the next couple of years at least, Sure, There may be some kind of a mini rise because of artifical government intervention in the free market but that dosent change the fact that the tide is going out.
The very fact that the developer is rushing foward the project to try and minimize his losses should tell you something.
Also, I don't want to discourage you but I think townhouses are a bad investment, You may have problems renting it out (Have you weighed up the scenario if this townhouse is empty for 6 months ?) Also there is as you said the body corprate fee's ect, Basically a scummy, high nosed form of self declared aristocrat type people who think they are better then everyone else will tell you how, what, when and where to do everything. You almost can't even flush the toilet without body corporate approval.
You have to sit down with your sister and work out if you can truley continue to poor money into something that is not giving you anything back in return.
What if one of you broke your leg or lost your jobs and you couldn't earn any more for a certain time ?
basically you need to work out if you can afford NOT to work, if the answer is No then I suggest you try and cut your losses, And put it down to a hard learned lesson. Learn about investing and the ecconomy before jumping into the game blindfolded
You don't want to be forced into selling this bad apple in 2 years time for 50k less then you paid for it
Goodluck.
If you want to know whats going on with the ecconomy and why, Listen for 10 minutes.
I'm sure the government will come up with some sort of theory that says Global Cooling is caused by Global Warming and Global Cooling is proof that Global Warming exists because the evil Co2 is purposely making the earth cooler now to trick everyone into believing that the earth is getting colder when really Co2's plan is to use reverse psychology so it can implement its evil plan of global warming
